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Quality control procedures is the statistical process designed to ensure that the precision and accuracy of, for instance, a laboratory test, are maintained within the acceptable limits. The simplest such process involves the chart (generally called a control chart) with three horizontal lines, one made at the target level of the applicable control statistic, and the others, called action lines, made at some pre-specified distance above and below the target level. The procedure is examined to be at an acceptable quality level as long as the observed control statistic lies among the two lines and to be at a rejectable quality level if any of these lines are crossed.
Product-limit estimator is a method for estimating the survival functions for the set of survival times, some of which might be censored observations. The logic behind the procedu
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
Last observation carried forward is a technique for replacing the observations of the patients who drop out of the clinical trial carried out over a time period. It consists of su
Briefly explain the importance of forecasting for managers?
Outlier is an observation which seems to deviate markedly from the other members of the sample in which it happens. In the set of systolic blood pressures, {125, 128, 130, 131, 19
Cohort component method : A broadly used method or technique of forecasting the age- and sex-speci?c population to the upcoming years, in which the initial population is strati?ed
(a) You are trying to develop a strategy for investing in two different stocks, Stock A and Stock B. The anticipated annual return for a $1000 investment in each stock under four
Lexis diagram is the diagram for displaying the simultaneous effects of the two time scales (generally age and calendar time) on a rate. For instance, mortality rates from cancer
Inliers is the term used for the observations most likely to be subject to error in situations where the dichotomy is developed by making a ‘cut’ on an ordered scale, and where th
Item-total correlation is an extensively used method for checking the homogeneity of the scale made up of number of items. It is simply the Pearson's product moment correlation c
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