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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
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 >
The transformation of the Pearson's product moment correlation coefficient, r, can be given by The statistic z has the normal distribution with mean here ρ is the pop
Orthogonal is a term which occurs in several regions of the statistics with different meanings in each case. Most commonly the encountered in the relation to two variables or t
Average age at death : A ?awed statistic summarizing expectancy of the life and other aspects of the mortality. For instance, a study comparing average age at the death for male sy
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
Change point problems : Problems with chronologically ordered data collected over the period during which there is known to have been a change in the underlying data generation cou
Goodmanand kruskal measures of association is the measures of associations which are useful in the situation where two categorical variables cannot be supposed to be derived from
A term commonly encountered in the analysis of the contingency tables. Such type of frequencies are the estimates of the values to be expected under hypothesis of interest. In a tw
Duck Lovers Unlimited (DLU) Inc. assembles specially configured light jet aircrafts for airborne duck hunting. The quarterly demand forecasts for the upcoming fiscal year are:
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