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Cause and Effect Even a highly significant correlation does not necessarily mean that a cause and effect relationship exists between the two variables. Thus, correlation does
What is an example of a real life situation when I would use each of these test
Disadvantages The value of mode cannot always be determined. In some cases we may have a bimodal series. It is not capable of algebraic manipulations. For example, from t
I need to know if the exam will be guarantee to pull my grade up to a B or an A. I have a D right now so i need to get someone that is willing to put effort on completing it???
Coefficient of Determination The coefficient of determination is given by r 2 i.e., the square of the correlation coefficient. It explains to what extent the variation
Analytical Approach We will illustrate this through an example. Example 1 A firm sells a product in a market with a few competitors. The average price charged by the
A real estate agency collected the data shown below, where y = sales price of a house (in thousands of dollars) x 1 = home size (in hundreds of square f
Standard Deviation The main drawback of the deviation measures of dispersion, as discussed earlier, is that the positive and negative deviations cancel out each other. Use of t
Other Measures of Dispersion In this section, we look at relatively less used measures of dispersion like fractiles, deciles, percentiles, quartiles, interquartile range and f
We want to investigate the income data. In the Excel file Midterm Data.xls there is a tab labeled "Income Data 2006". The data in the tab is the income reported by 400 people in
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