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We must be careful when interpreting the meaning of association. Although two variables may be associated, this association does not imply that variation in the independent variable is a cause of variation in the dependent variable (or vice versa). For instance, age and income are usually related. However, a mere increase in age does not cause an increase in income. We can determine the presence or absence of association through statistics. However, there is no basis for concluding that a cause-effect relation exists between these variables.
Classification of Universe The universe may be classified either on the basis of number of units and on the basis of existence of units as is clear from the following chart :
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
Among the students doing a given course, there are four boys enrolled in the ordinary version of the course, six girls enrolled in the ordinary version of the course,and six boys e
Methods of Forecasting Various techniques which are generally used in business forecasting are as under: 1. Forecasting through the opinion of heads of department
There are situations where none of the three averages is fully satisfactory. For example, if the number of items in a series is very small, none of these av
Active Control Equivalence Studies (ACES) Clinical trials the field in which the object is easy to show that the new treatment is as good as the existing treatment. Such type
According to a recent study, when shopping online for luxury goods, men spend a mean of $2,401, whereas women spend a mean of $1,527. Suppose that the study was based on a sample o
The Maju Supermarket stocks Munchies Cereal. Demand for Munchies is 4,000 boxes per year and the super market is open throughout the year. Each box costs $4 and it costs the store
Type of Variable in Regression Analysis There are two types of variable in regression analysis. These are: a. Dependent variable b. Independent variable
Investigate the use of fixed and percentile meshes when applying chi squared goodness-of- t hypothesis tests. Apply the oversmoothing procedure to the LRL data. Compare the res
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