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Hazard plotting is based on the hazard function of a distribution, this procedure gives estimates of distribution parameters, the proportion of units failing by the given time period, percentiles of the distribution, the behaviour of failure rate of the units as a function of time, and conditional failure probabilities for units at any period of time.
Quincunx is the device used by Galton to illustrate his lectures, which is shown in the Figure. It had a glass face and a funnel at its top. The shot was passed through funnel an
methods of determining trend in time series?
Hypothesis testing is a general term for procedure of assessing whether the sample data is consistent or otherwise with statements made about the population. It basically tells u
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
Kaiser's rule is the rule frequently used in the principal components analysis for selecting the suitable the number of components. When the components are derived from correlati
Explain the impact of globalisationon HRM
Monty Hall problem : A apparently counter-intuitive problem in the probability which gets its name from the TV game show, 'Let's Make a Deal' hosted by the Monty Hall. On show a pa
Initial data analysis (IDA): The first phase in the examination of the data set which comprises number of informal steps including the following steps * checking the quality o
The initial evaluation of the set of observations to see whether or not they appear to satisfy the hypotheses or assumptions of the methods to be used in their analysis. Techniques
The rapid development or growth of the disease in a community or region. Statistical thinking has made very much significant contributions to the understanding of such type of phen
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