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Median absolute deviation (MAD): It is the very robust estimator of the scale given by the following equation
or, in other words we can say that, the median of the absolute deviations from the median of data. In order to use MAD as the consistent estimator of the standard deviation it is multiplied by a scale factor which depends on the distribution of the data. For normally distributed data the constant is 1.4826 and expected value of 1.4826 MAD is approximately equal to population standard deviation.
An approach to decrease the size of very large data sets in which the data are first 'binned' and then statistics such as the mean and variance/covariance are calculated on each bi
Quality control procedures is the statistical process designed to ensure that the precision and accuracy of, for instance, a laboratory test, are maintained within the acceptable
Duck Lovers Unlimited (DLU) Inc. assembles specially configured light jet aircrafts for airborne duck hunting. The quarterly demand forecasts for the upcoming fiscal year are:
Software which started out as the spreadsheet targeting at manipulating the tables of number for financial analysis, which has now developed into a more flexible package for workin
Range is the difference between the largest and smallest observations in the data set. Commonly used as an easy-to-calculate measure of the dispersion in the set of observations b
The contingency tables in which the row and column both the categories follow a natural order. An instance for this might be, drug toxicity ranging from mild to severe, against the
The procedure for clustering variables in the multivariate data, which forms the clusters by performing one or other of the below written three operations: * combining two varia
Kolmogorov Smirnov two-sample method is a distribution free technique which tests for any difference between the two populations probability distributions. The test is relied on t
HOW TO CONSTRUCT A BIVARIATE FREQUENCY DISTRIBUTION
Mention the characteristics of Statistics. Explain any two applications of Statistics.
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