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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.
The functions of the data and the parameters of interest which can be brought in use to conduct inference about the parameters when full distribution of the observations is unknown
Mann Whitney test is a distribution free test which is used as an alternative to the Student's t-test for assessing that whether the two populations have the same median. The test
relevancy of time series in business management
I do have a data of real gdp for each state and from 2000 to 2010 and I also have estimated population of illigel immigrants for each state from 2000 to 2010. In my thesis I am try
Paired samples are the two samples of the observations with the characteristic feature with each of the observation in one sample have only one matching observation in the other s
The special cases of the probability distributions in which the random variable's distribution is concentrated at one point only. For instance, a discrete uniform distribution when
The scatter plots of SRES1, RESI1 versus totexp demonstrates that there is non-linear relationship that exists as most of the points are below and above zero. The scatter plots sho
Classification and regression tree technique (CART): The alternative to the multiple regression and associated techniques or methods for determining subsets of the explanatory va
Infant mortality rate is the ratio of the number of deaths during the calendar year among the infants under one year of age to the total number of live births during that particul
The problematic and enigmatic theory of an inference introduced by the Fisher, which extracts a probability distribution for the parameter on the basis of the data without having f
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