Understanding the Weibull Distribution

The Weibull distribution is one of the most widely used distributions in reliability engineering, survival analysis, and failure-time modelling. Named after Swedish engineer Waloddi Weibull (1951), it is prized for its flexibility: by tuning just two parameters it can mimic an exponential, a norm...

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Monte Carlo estimate of 𝛑

An elegant way to demonstrate the Monte Carlo technique is by estimating \(\pi\) in a simple geometry problem. Given a circle of radius r inscribed in a square of side 2r, the area of the circle is \(\pi*r^2\) and the area of the square is \(4r^2\). The ratio of those areas is \(\pi /4\), so if y...

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Information criteria: AIC, AICc, BIC

Information theoretic approaches view inference as a problem of model selection. The best model is the one that has the least information loss relative to the true model. Information criteria (IC) are estimates of the Kullback Leibler information loss, which cannot be calculated in real life mode...

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