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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.
Artificial neural network : A mathematical arrangement modelled on the human neural network and designed to attack various statistical problems, particularly in the region of patte
Laplace distribution : The probability distribution, f(x), given by the following formula Can be derived as the distribution of the difference of two independent random var
Growth curve analysis is t he general term for methods dealing with development of the individuals over time. A classic instance includes recordings made on a group of children, sa
Bartlett decomposition : The expression for the random matrix A which has a Wishart distribution as the product of the triangular matrix and the transpose of it. Letting each of x
Hi , Im currently taking the course Financial Econometrics of Master of Finance at RMIT. I find it really difficult to understand the course''s material and now im having the majo
Bootstrap : The data-based simulation method/technique for the statistical inference which can be used to study the variability of the estimated characteristics of the probability
Mann Whitney test is a distribution free test which is used as an alternative to the Student's t-test for assessing that whether the two populations have the same median. The test
Ordered alternative hypothesis is a hypothesis or assumption which speci?es an order for the set of parameters of interest as an alternative to the equality, rather than simply th
The act of combining data from heterogeneous sources with the intent of extracting information that would not be available for any single source in isolation. An example is the com
importance of mathamatical expection in business
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