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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.
What is the EM?
The method or technique for producing the sequence of parameter estimates that, under the mild regularity conditions, converges to maximum likelihood estimator. Of particular signi
The measure of the degree to which the particular model differs from the saturated model for the data set. Explicitly in terms of the likelihoods of the two models can be defined a
Probability weighting is the procedure of attaching weights equal to inverse of the probability of being selected, to each respondent's record in the sample survey. These weights
Indirect standardization is the procedure of adjusting the crude mortality or morbidity rate for one or more variables by making use of a known reference population. It may, for in
Meta-analysis is the collection of techniques whereby the results of two or more independent studies are statistically combined to yield the overall answer to a question of intere
Collector's problem : A problem which derives from the schemes in which packets of a particular brand of coffe, cereal etc., are sold with coupons, cards, or other tokens. There ar
Particlefilters is a simulation method for tracking moving target distributions and for reducing computational burden of the dynamic Bayesian analysis. The method uses a Markov ch
A family of the probability distributions of the form given as here θ is the parameter and a, b, c, d are the known functions. It includes the gamma distribution, normal dis
Regression line drawn as y= c+ 1075x ,when x was2, and y was 239,given that y intercept was 11. Calculate the residual ?
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