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  2. Biostatistics - Wikipedia

    en.wikipedia.org/wiki/Biostatistics

    Any research in life sciences is proposed to answer a scientific question we might have. To answer this question with a high certainty, we need accurate results. The correct definition of the main hypothesis and the research plan will reduce errors while taking a decision in understanding a phenomenon.

  3. Economies of scale - Wikipedia

    en.wikipedia.org/wiki/Economies_of_scale

    Buyers, in turn, benefit from the lower transaction costs and economies of scale that result from larger volumes. In part as a result, numerous studies have indicated that the procurement volume must be sufficiently high to provide sufficient profits to attract enough suppliers, and provide buyers with enough savings to cover their additional ...

  4. Likelihood-ratio test - Wikipedia

    en.wikipedia.org/wiki/Likelihood-ratio_test

    The likelihood-ratio test, also known as Wilks test, [2] is the oldest of the three classical approaches to hypothesis testing, together with the Lagrange multiplier test and the Wald test. [3] In fact, the latter two can be conceptualized as approximations to the likelihood-ratio test, and are asymptotically equivalent.

  5. Mechanization - Wikipedia

    en.wikipedia.org/wiki/Mechanization

    In an early engineering text, a machine is defined as follows: Every machine is constructed for the purpose of performing certain mechanical operations, each of which supposes the existence of two other things besides the machine in question, namely, a moving power, and an object subject to the operation, which may be termed the work to be done.

  6. Capital (economics) - Wikipedia

    en.wikipedia.org/wiki/Capital_(economics)

    In economics, capital goods or capital are "those durable produced goods that are in turn used as productive inputs for further production" of goods and services. [1] A typical example is the machinery used in a factory. At the macroeconomic level, "the nation's capital stock includes buildings, equipment, software, and inventories during a ...

  7. Turning - Wikipedia

    en.wikipedia.org/wiki/Turning

    Roughing, or rough turning Parting aluminium Finish turning. Turning is a machining process in which a cutting tool, typically a non-rotary tool bit, describes a helix toolpath by moving more or less linearly while the workpiece rotates.

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  9. Industrial Age - Wikipedia

    en.wikipedia.org/wiki/Industrial_Age

    The Industrial Age is a period of history that encompasses the changes in economic and social organization that began around 1760 in Great Britain and later in other countries, characterized chiefly by the replacement of hand tools with power-driven machines such as the power loom and the steam engine, and by the concentration of industry in ...