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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 decision problems can be seen as zero sum games between two persons.
Balanced incomplete repeated measures design (BIRMD): An arrangement of the N randomly selected experimental units and k treatments in which each and every unit receives k1 treatm
You and your team have been hired as strategic consultants by the hugely successful retailer known as “Cutie Pie”. The company sells many products, although one product in particul
Conjoint analysis : The method used basically in market research which is similar in many respects to the various dimensional scaling. The method attempts to assign values to the l
The studies conducted in the pharmaceutical industry to calculate the degradation of the new drug product or an old drug formulated or packaged in the new manner. The main study ob
A vague concept which occurs all through statistics. Essentially the term means the number of independent units of the information in an easy relevant to the estimation of the para
Uncertainty analysis is the process for assessing the variability in the outcome variable that is due to the uncertainty in estimating the values of input parameters. A sensitivit
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
Chernoff's faces : A method or technique for representing the multivariate data graphically. Each observation is represented by the computer-created face, the features of which are
It is the multivariate normal random vector which satisfies certain conditional independence suppositions. This can be viewed as a model framework which contains a wide range of st
(a) A plane timetable states that a particular plane is due at 2pm but the actual arrival time isuniformly distributed between 1pm and 3pm. (i) Calculate the probability that th
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