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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.
Applications of Standard Error Standard Error is used to test whether the difference between the sample statistic and the population parameter is significant or is d
The Null Hypothesis - H0: The random errors will be normally distributed The Alternative Hypothesis - H1: The random errors are not normally distributed Reject H0: when P-v
real time applications on graphical representation of o-give curves
Meaning of Interpolation and Extrapolation Interpolation is a method of estimating the most probable missing figure on the basis of given data under certain assumptions. On t
This probability rule determined by the research of the two mathematicians Bienayme' and Chebyshev, explains the variability of data about its mean when the distribution of the dat
Coefficient of Variation or C.V. To compare the variability between or more series, coeffiecnt of variation is used, it is relative measure of dispersion, it innovated and used
WHAT YOU MEAN BY UTILITY OF MANAGERIALECONOMICS
velocity of a particle which moves along the s-axis is given by v=2-4t+5t then find position velocity,acceleration
Simple Linear Regression While correlation analysis determines the degree to which the variables are related, regression analysis develops the relationship between the var
how to write result in the end of price index number problem
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