Discuss the importance of sampling, and articulate how sampling
is related to parameter estimation. Provide practical examples that
support your arguments (e.g. examples of how appropriate sampling
can provide better parameter estimates for your population you are
studying).
A telephone sales force can model its contact with customers as
a Markov chain. The six states of the chain are as follows:
State 1 Sale completed during most recent call
State 2 Sale lost during most recent call
State 3 New customer with no history
State 4 During most recent call, customer’s interest level low
State 5 During most recent call, customer’s interest level medium
State 6 During most recent call, customer’s interest level
high
Based on past phone...
what do you understand by point estimation? when would
you say that estimate of a parameter is good? also discuss the
requirements of consistency unbiasedness of an estimate?
Model the following systems as discrete time Markov chains.
Define the Markov chains by precisely stating the quantity of
interest, give the state space, draw a state diagram, and write
down the one step transition probability matrix.
(a) Every evening I eat at one of my three favorite restaurants
in Bruntsfield. Having eaten at a restaurant one night, the next
evening I’ll go to one of the other two restaurants equally
likely.
(b) Consider a special gambler’s ruin problem, where...
- What role will estimation play in a health system? How will
health state estimation be different from recognizing
disease?
- Let's discuss at least 3 chronic diseases. Say Diabetes,
Cardio-vascular, and Asthma. What would you like to estimate for
these applications.
- How is learning used in diagnosis? What should you estimate in a
general health system?
What are the main sources of bias in regression analysis as it
relates to model estimation and specification? What can be done to
address each form of bias w/ an emphasis on the advantages and
disadvantages of each approach, if applicable?What can be done to
address each form of bias w/ an emphasis on the advantages and
disadvantages of each approach, if applicable?