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Coefficient of Variation
The standard deviation discussed above is an absolute measure of dispersion. The corresponding relative measure is known as the coefficient of variation. This relative measure of dispersion based upon standard deviation is also called coefficient of standard deviation.
It is used in such problems where we want to compare the variability, homogeneity, stability, uniformity and consistency of two or more series. That series for which the coefficient of variation is greater is said to be more variable or conversely less consistent, less uniform, less stable or less homogeneous. On the other hand, the series for which the Coefficient of Variation is less, is said to be less variable or more consistent, more uniform, more stable or more homogeneous.
The PCA is amongst the oldest of the multivariate statistical methods of data reduction. It is a technique for simplifying a dataset, by reducing multidimensional datasets to lower
The box plot displays the diversity of data for the totexp; the data ranges from 30 being the minimum value and 390 being the maximum value. The box plot is positively skewed at 1.
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In 120 tosses of a coin, 45 heads and 75 tails are observed. Is this a balanced coin? Use a=0.05. (Follow the basic steps of hypothesis testing)
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