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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 least a $40-billion-a-year industry. The popular forms of gambling are basically national lotteries, roulette and horse racing. For these (and diffrenent types of gambling) it is relatively simple to apply statistical methods or techniques to discover the chances of winning, but in no form of gambling does the statistical analysis increase your chances of winning.
Demographic data: Age: continuous variable Gender: categorical variable with males coded 1, females coded 2. Relationship status: categorical variable 1 to 5. Rational
Goodmanand kruskal measures of association is the measures of associations which are useful in the situation where two categorical variables cannot be supposed to be derived from
Law of likelihood : Within framework of the statistical model, a particular set of data supports one statistical hypothesis or assumption better than another if the likelihood of t
Randomized consent design is the design at first introduced to overcome some of the perceived ethical problems facing clinicians entering patients in the clinical trials including
Compliance : The extent to which the participants in a clinical trial follow trial protocol, for instance, following both the intervention regimen and trial procedures (clinical vi
Component bar chart : A bar chart which shows the component parts of the aggregate represented by the whole length of the bar. The component parts are shown as the sectors of bar w
Why Graph theory? It is the branch of mathematics concerned with the properties of sets of points (vertices or nodes) some of which are connected by the lines known as the edges. A
L'Abbe ´ plot is often used in the meta-analysis of the clinical trials where the result is the binary response of it. The event risk (number of events/number of the patients in a
Briefly explain the importance of forecasting for managers?
Laplace distribution : The probability distribution, f(x), given by the following formula Can be derived as the distribution of the difference of two independent random var
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