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Angle Count method
The method for estimating the proportion of the area of a forest which is in fact covered by the bases of trees. An observer goes to each of the number of points in the forest, chosen randomly or systematically, and counts the number of trees which subtend, at that particular point, an angle greater than or equal to the predetermined and fixed angle 2α.
Using a random sample of 670 individuals for the population of people in the workforce in 1976, we want to estimate the impact of education on wages. Let wage denote hourly wage in
Level of Significance: α The main purpose of hypothesis testing is not to question the computed value of the sample statistic, but to make judgment about the difference between
The interest rate on the three year loan is 0.087. Whereas the interest rate on the two year loan is 0.085 as given in A. Suppose that the liquidity premium at t=1 is 0.002 and tha
A manufacturer has received complaints that aging production equipment is forcing workers to work overtime in order to meet production quotas. Historically, the average hours worke
Application of the chi Square Test
Rank Correlation Sometimes the characteristics whose possible correlation is being investigated, cannot be measured but individuals can only be ranked on the basis of the chara
Example of discrete random variable: 1. What is a discrete random variable? Give three examples from the field of business. 2. Of 1000 items produced in a day at XYZ Manufa
how much that cost ?
Binomial Distribution Binomial distribution was discovered by swiss mathematician James Bernonulli, so this distribution is called as Bernoulli distribution also, this is a d
As we stated above, we start factor analysis with principal component analysis, but we quickly diverge as we apply the a priori knowledge we brought to the problem. This knowled
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