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Post stratification adjustment: One of the most often used population weighting adjustments used in the complex surveys, in which weights for the elements in a class are multiplied by a factor so that total sum of the weights for the respondents in the class equals the population sum for the class. The technique is broadly used in household surveys to control the weighted sample totals to known population totals for particular demographic subgroups. For instance, in the US National Health Interview Survey, post stratification by sex, age, and race is employed.
an oil company is considering whether or not to bid for an offshore drilling contract. The bid would cost $60 with a 65% chance of gaining the contract. Outcome success Probability
It is the art of attempting to exchange something quite small and certain, for something which are large and uncertain. Gambling is big business; in the US, for instance, it is at
MEANING ,IMPORTANCE AND RELEAVANCE OF SCATTER DIAGRAM
Isobologram is a diagram used to characterize the interactions among jointly administered drugs or the chemicals. The contour of the constant response (that is the isobole), which
Grade of membership model: This is the general distribution free method for the clustering of the multivariate data in which only categorical variables are included. The model ass
How has quantitative analysis changed the current scenario in the management world today?
Categorizing continuous variables : A practice which involves the conversion of the continuous variables into the series of the categories, which is common in the field of medical
The method of summarizing the large amounts of data by forming the frequency distributions, scatter diagrams, histograms, etc., and calculating statistics like means variances and
The variables appearing on the right-hand side of equations defining, for instance, multiple regressions or the logistic regression, and which seek to predict or 'explain' response
The term which is used in the industrial experimentation, where there is commonly a large set of candidate factors believed to have the possible significant influence on the respon
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