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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.
"index number is an economic barometer" comment on this statement
Consider the following linear regression model: a) What does y and x 1 , x 2 , . . . . x k represent? b) What does β o , β 1 , β 2 , . . . . β k represent?
Methods of Forecasting Various techniques which are generally used in business forecasting are as under: 1. Forecasting through the opinion of heads of department
Problem: A survey usually originates when an individual or an institution is confronted with an information need and the existing data are insufficient. Planning the questionn
Uses Arithmetic mean is widely used because of the following reasons: Mean is the simplest average to understand and easy to compute. It
what are the challenges affecting population census in developing countries
Assumptions in Regression To understand the properties underlying the regression line, let us go back to the example of model exam and main exam. Now we can find an estimate o
Introduction to Probability A student is considering whether she should enroll in an MBA educational program offered by a well-known college. Among othe
(a) At a stream gauging station, the following discharges and stage measurements were taken for the purpose of the rating curve at that section: Stage (m) 1
practical application of standard error
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