Posts Tagged ‘ Poisson distribution ’

Example 8.30: Compare Poisson and negative binomial count models

March 15, 2011
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Example 8.30:  Compare Poisson and negative binomial count models

How similar can a negative binomial distribution get to a Poisson distribution?When confronted with modeling count data, our first instinct is to use Poisson regression. But in practice, count data is often overdispersed. We can fit the overdispersio...

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Example 8.28: should we buy snowstorm insurance?

February 28, 2011
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Example 8.28: should we buy snowstorm insurance?

It's been a long winter so far in New England, with many a snow storm. In this entry, we consider a simulation to complement the analytic solution for a probability problem concerning snow. Consider a company that buys a policy to insure its revenue ...

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