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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.
limitations of time series analysis
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
The Harmonic Mean is based on the reciprocals of numbers averaged. It is defined as the reciprocal of the arithmetic mean of the reciprocal of the given individual observations. Th
Year Production 2006 8 2007 6 2008 10 2009 12 2010 11 2011 15 2012 14 2013 16 Determine the trend from data given above?
Question: A car was machine washes each car in 5 minutes exactly. It has been estimated that customers will arrive according to a Poisson distribution at an average of 8 per hour.
Each question, by default, should be solved INDIVIDUALLY, unless marked as \collaborative". Questions marked as \collaborative" implies that for those questions you are encourage
Sampling A Population is a collection of all the data points being studied. For example, if we are studying the annual incomes of all the people in India, then the population
Assumption of extrapolation
Steps in ANOVA The three steps which constitute the analysis of variance are as follows: To determine an estimate of the population variance from the variance that exi
Suppose both the Repair record 1978 and Company headquarters are believed to be significant in explaining the vector (Price, Mileage, Weight). Here, because of the limited sample s
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