what is the difference between,prediction, estimation and expectation?
475789
Prediction - Stab in the dark.\n\nEstimation - Educated guess based on knowledge you already have.\n\nExpectation - The anticipated results of the educated guess you made.
648708
I know this! I did a problem like this a while ago! It's an exponential equation. It can be used to predict exponential increases or decreases, like bacteria or double/triple/quadrupled information.
830991
I'm wondering why you created the data 1-3500?  I would think you would use the set of data available and figure the standard deviation and average.  With that information, you would be able to predict tomorrows value at a certain confidence level.  I forget is that the p test or the t test.  its been a while since I took statistics.
26116
Exponential functions are used in the everyday lives of people who model (represent mathematically):\n\na) exponential growth - such as the change in a population over time.\n\nb) exponential decay - such as the change in radioactivity of a substance over time.
233497
Usually this term is used in parameter estimation. There exists a number (parameter) relative to a population, but you only use a sample of that population to estimate it. You can´t say for sure what the number is, but you can give a confidence interval.\n \nFor example, lets say you want to know the average height of NBA players but only know the height of 50 players. Supposing those 50 players were a random sample, the average of that sample is the best estimate of the average height of all NBA players. Nevertheless, the actual NBA average will likely not be the same. Using the center limit theorem allows you to develop a theory that leads to the confidence interval.\n \nSuppose it turned out that your estimated average was 2.00m and the 95% C.I. was 1.90 - 2.10. What that really means, is that, *if* the actual average is 2.00m, 95% of the time you sample 50 players randomly, the sample average will be in that range. You can turn that statement around (it boggles the mind, I know) and say that, if the actual population is outside the 1.90 - 2.10 interval, the chance of a random sample having a 2.00 average is less than 5%.\n \nIf you really want to understand the why´s and the caveats, you have to get a basic understanding of central limit theorem and draw the normal distribution of the sampled parameter.
90357
F- even and odds.  There are 3 even sides and 3 odd sides. So the likelihood is the same for both.
866841
"Prediction?"\n"Yes, prediction."\n"...Pain..."
775942
a hypothesis is an educated guess\nit has to be written as an if, then statement\n For example: If this statement helps you, then i mite get 10 points for the best answer!\ngood luck!
360842
THEORY OF KNOWLEDGE.\nDeming emphasized that knowledge is not possible without theory, and experience alone does not establish a theory. Experience only describes—it cannot be tested or validated—and alone is no help for management. Theory, on the other hand, shows a cause-and-effect relationship that can be used for prediction. There is a lesson here for the widespread benchmarking practices: copying only an example of success, without understanding it in theory, may not lead to success, but could lead to disaster.
13835
Expectations, lots of them, unfortunately most are gloom and doom. There is a forecasted famine in Ethiopia to rival the one in the 90s, they say some 60 to 80 thousand poor souls will starve to death this year in Ethiopia alone!  And if the weather continues globally as it has been going, there will be another 1 to 2.5 million poor souls, killed by hurricanes, floods etc. etc. and another 4 million left homeless, ,   now here in the USA, we have allowed CEO's and Politicians, to ship over 42% of all manufacturing jobs and telecommunication jobs to either India or China, forcing our national production rate down, making us more and more a third world country, we have filled our colleges with students from other countries, due to we can not afford them ourselves. BUT the world expects us, the workers of america to be able to live and feed the rest of the world.  God help us all!!!!
93965
Not so rough man, that's what forecasters do: to predict. Prediction means the reality can come exactly like what they say or not. You still have a nice day, don't you?
990324
es·ti·ma·tion    ( P )  Pronunciation Key  (st-mshn)\nn. \n\nThe act or an instance of estimating. \nThe amount, extent, position, size, or value reached in an estimate. \nAn opinion or a judgment. \nFavorable regard; esteem. \n \n\n[Download Now or Buy the Book] \nSource: The American Heritage® Dictionary of the English Language, Fourth Edition\nCopyright © 2000 by Houghton Mifflin Company.\nPublished by Houghton Mifflin Company. All rights reserved. \n\n\nestimation\n\nn 1: an approximate calculation of quantity or degree or worth; "an estimate of what it would cost"; "a rough idea how long it would take" [syn: estimate, approximation, idea] 2: a document appraising the value of something (as for insurance or taxation) [syn: appraisal, estimate] 3: the respect with which a person is held; "they had a high estimation of his ability" [syn: estimate] 4: a judgment of the qualities of something or somebody; "many factors are involved in any estimate of human life"; "in my estimation the boy is innocent" [syn: estimate]\n\n\nap·prox·i·ma·tion    ( P )  Pronunciation Key  (-prks-mshn)\nn. \nThe act, process, or result of approximating. \nMathematics. An inexact result adequate for a given purpose
353839
Learn stochastic calculus and maths modelization first. It's your only way to making consistent profit on the FX. Charts are a great way to "learn" except they have no PREDICTIVE value whatsoever... sounds familiar? ;)
660102
1.  The expected value should be calculated likme this.\n\n(1/34 * 91) + (33/34 * 9) = 2.68 + 8.74 = 11.42\n\n2.  (37,000 * .7) - (18,000 * .3) = 25900 - 5400 = 20500
228147
actuarial\n\ndemographics\n\npredator-prey relationships\n\nregression toward the means
311981
Yes, if you expect the unexpected, then it(the unexpected) is expected.  Of course, if you are expecting the unexpected, then the expected becomes your unexpected.  No matter what you expect, there will always be someone that will ask, "Did you expect that?"  I expect you will eventually be surprised by how much you expect of others even in unexpected situations.  By the same token, if you expect more will you always be disappointed?  and if you expect less are you lowering your standards?  And just what are Great Expectations???
479066
Probability theory is the branch of mathematics that helps assess the chances that something will or will not occur. One of the tools is using probability distributions to model processes in real life.  If the distribution "fits" the process well, predictions can be made about how often events might occur.\n\nThe process might be a coin toss (Bernoulli), the rate at which people arrive at the food line in McDonalds (Poisson), the rate at which new products fail (Weibull).  Once you have an appropriate model, you can say "what are the chances that I'll get 5 heads in a row", if I average 5 people an hour in my food line, what might be the "peak" rate at which I can expect people to arrive.".\n\nNow, to answer your question -- this is difficult.  You haven't provided enough information about the situation or the process to be able to give you any specific guidance.