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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.
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
Your organization purchases bottles of a popular commercial solvent for resale. Each bottle is labeled as containing 32 fluid ounces of the solvent. Your cont
These techniques are applied when the rows and the columns of the data table represent the same units and when the measure is a disiance or a similarity. The goal of the analysis i
Question: The weights of 60 children born to mothers in a small rural hospital were recorded. 3.63 3.54 3.15 3.90 4.29 4.06 2.91 3.36 3.3
CALCULATE THE PERCENTAGE OF REFUNDS EXPECTED TO EXCEED $1000 UNDER THE CURRENT WITHHOLDING GUIDELINES
get a questionnaire that captured age at first marriage
If the economy does well, the investor's wealth is 2 and if the economy does poorly the investor's wealth is 1. Both outcomes are equally likely. The investor is offered to invest
PCA is a linear transformation that transforms the data to a new coordinate system such that the greatest variance by any projection of the data comes to lie on the first coordinat
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 po
The cost of living index number on a some data was 200. From the base period, the percentage enhances in prices were-Rent Rs 60, clothing Rs 250, Fuel and Light Rs 150 and Miscella
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