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Multi stage or Cluster Random sampling Under this method, the random selection is made of primary, intermediate and final units from a given population. The area of investigat
Advantages of Sampling Why should we settle on a sample instead of studying the entire population? Sampling has the following advantages over a census (study of the entire pop
Measures of Dispersion Box 3: Food vs. Oil Below are the figures for foodgrain procurement and cr
Consider the following new business venture. An agent is considering investment in one of three real estate parcels: • Option 1: multiunit rentals • Option 2: commercial building
The following are the various types of common averages used in statistical analysis given in the form of a chart. Figure 1
Uses Arithmetic mean is widely used because of the following reasons: Mean is the simplest average to understand and easy to compute. It
Bernoulli's Theorem If a trial of an experiment can result in success with probability p and failure with probability q (i.e.1-p) the probability of exactly r success in n tri
Meaning and Definitions of Business Forecasting The problem of business forecasting refers to the analysis of the past and present economic conditions. With the objectiv
Consider a Cournot duopoly with two firms (fi rm 1 and fi rm 2) operating in a market with linear inverse Demand P(Q) = x Q where Q is the sum of the quantities produced by both
In PCA the eigknvalues must ultimately account for all of the variance. There is no probability,'no hypothesis, no test because strictly speaking PCA is not a statistical procedure
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