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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.
#questionMaximize Z= 3x1 + 2X2 Subject to the constraints: X1+ X2 = 4 X1 - X2 = 2 X1, X2 = 0..
how to compute reliability coefficient for extracted factors in factor analysis?
Problem : A company supplying electrical products, places a rush order for electric wires. Consignments of wires are to be sent immediately when they are available. Previous
Statistical Errors Statistical data are obtained either by measurement or by observation. Hence to think of perfect accuracy is only a delusion or a myth, It is no
discuss the advantages and disadvantages of measures of dispersions
A salesperson visits from house to house to sell her knives. The probability that she makes a sale at a random house is .3. Given that she makes a sale, the sale is worth $100 with
Uses Arithmetic mean is widely used because of the following reasons: Mean is the simplest average to understand and easy to compute. It
give a elementary example for characterstics of index number
Regression Coefficient While analysing regression in two related series, we calculate their regression coefficients also. There are two regression coefficients like two regress
Suppose that in the actual survey of 50 prospective customers, 6 subscribe to the 3 for all offer, what does this tell you about the previous estimate of the proportion of customer
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