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An oil 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 company
Kappa coefficient : The chance corrected index of the agreement between, for instance, judgements and diagnoses made by the two raters. Calculated as the ratio of the noticed exces
properties of chebyshevs lemma
we are testing : Ho: µ=40 versus Ha: µ>40 (a= 0.01) Suppose that the test statistic is z0=2.75 based on a sample size of n=25. Assume that data are normal with mean mu and standa
Thomas Economic Forecasting, Inc. and Harmon Econometrics have the same mean error in forecasting the stock market over the last ten years. However, the standard deviation for Thom
the problem that demonstrates inference from two dependent samples uses hypothetical data from TB vaccinations and the number of new cases before and after vaccinations for cases o
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
Human capital model : The model for evaluating the economic implication of the disease in terms of the economic loss of a person succumbing to morbidity or the mortality at some pa
Procrustes analysis is a technique of comparing the alternative geometrical representations of a group of multivariate data or of the proximity matrix, for instance, two competing
Chi-squared distribution : It is the probability distribution, f (x), of the random variable de?ned as the sum of squares of the number (v) of independent standard normal variables
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