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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.
Systematic Sampling In Systematic Sampling each element has an equal chance of being selected, but each sample does not have the same chance of being selected. Here,
The amounts of money won by the top ten finishers in a famous car race are listed below. $1,172,246 $163,659 $440,584 $350,634 $290,596 $186,731 $145,809 $143,2
Multivariate analysis involves a set of techniques to analyse data sets on more than one variable. Many of these techniques are modern and often involve quite sophisticated use of
#question what is the statistical process to reduce hardness of water
First Moment of Dispersion or Mean Deviation Mean deviation or the average deviation is the measure if dispersion which is based upon all the items in a variable .It is the a
Chebychev inequality
Analytical Approach We will illustrate this through an example. Example 1 A firm sells a product in a market with a few competitors. The average price charged by the
There may be two values which occur with the same maximum frequency. The distribution is then called bimodal. In a bimodal distribution, the value of mode cannot be determined with
Chi Square Test as a Distributional Goodness of Fit In day-to-day decision making managers often come across situations wherein they are in a state of dilemma about the applica
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
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