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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.
Lattice distribution : A class of probability distributions to which most of the distributions for discrete random variables used in statistics belongs. In such type of distributio
what is goal post mentality?
Unequal probability sampling is the sampling design in which the different sampling units in the population have different probabilities of being included in sample. The differing
Tracking is the term sometimes used in the discussions of data from the longitudinal study, to describe the ability to predict the subsequent observations from previous values. In
Genstat: The basic purpose piece of statistical software for the management and the analysis of data. The package incorporates the wide variety of data handling events and a wi
Zero sumgame is a game played by the number of persons in which the winner takes all stakes given by the losers so that the algebraic sum of gains at any stage is zero. Number of
Briefly explain the importance of forecasting for managers?
The Null Hypothesis - H0: There is no heteroscedasticity i.e. β 1 = 0 The Alternative Hypothesis - H1: There is heteroscedasticity i.e. β 1 0 Reject H0 if Q = ESS/2 >
Hanging rootogram is he diagram comparing the observed rootogram with the ?tted curve, in which dissimilarities between the two are displayed in relation to the horizontal axis,
Harris and Stevens forecasting is the method of making short term forecasts in the time series which is subject to abrupt changes in pattern and the transient effects. Instances o
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