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Median is the value in a set of the ranked observations which divides the data into two parts of equal size.
When there are an odd number of observations the median is middle value. When there is an even number of the observations the measure is calculated as the average of two central values. It provides a measure of the location of a sample which is suitable for asymmetric distributions and is also relatively insensitive to presence of outliers.
Martingale: In the gambling context the term at first referred to a system for recouping losses by doubling the stake after each loss has occured. The modern mathematical concept
Ask quesoil company is considering whether or not to bid for an offshore drilling contract. If they bid, the value would be $600m with a 65% chance of gaining the contract. The com
Hot deck is a method broadly used in surveys for imputing the missing values. In its easiest form the method includes sampling with replacement m values from the sample respondent
After graduating from Tech Julia was unable to find regular employment and approached the Director of Athletics at Tech to request that she remain a vendor of the following year.
Barnard, George Alfred (1915^2002) : Born in Walthamstow in the east of London, Barnard achieved a scholarship to St. John's College, Cambridge, from where he graduated in the math
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
Johnson-Neyman technique: The technique which can be used in the situations where analysis of the covariance is not valid because of the heterogeneity of slopes. With this method
Classification and regression tree technique (CART): The alternative to the multiple regression and associated techniques or methods for determining subsets of the explanatory va
Regression line drawn as y= c+ 1075x ,when x was2, and y was 239,given that y intercept was 11. Calculate the residual ?
Leaps-and-bounds algorithm is an algorithm which is used to ?nd the optimal solution in problems which might have a large number of possible solutions. Begins by dividing the poss
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