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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.
Measurement of trend , least square method
1. Suppose you are estimating the imports (from both the U.S. mainland and foreign countries) of fuels and petroleum products in Hawaii (the dependent variable). The values of the
The data used is from a statistical software Minitab; London.MPJ is the file that consists of 1519 households drawn from 1980 - 1982 British Family Expenditure Surveys. Data that i
Meaning and Definitions of Business Forecasting The problem of business forecasting refers to the analysis of the past and present economic conditions. With the objectiv
calcation
Explain the characteristics of business forecasting.
The Null Hypothesis - H0: β0 = 0, H0: β 1 = 0, H0: β 2 = 0, Β i = 0 The Alternative Hypothesis - H1: β0 ≠ 0, H0: β 1 ≠ 0, H0: β 2 ≠ 0, Β i ≠ 0 i =0, 1, 2, 3
There are two diagnostic tests for a disease. Among those who have the disease, 10% give negative results on the first test, and independently of this, 5% give negative results on
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Comparison of the Principal Averages-Mean, Median and Mode The mean, median, and mode are located at the same point in a symmetrical frequency distri
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