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Explain what central tendency and variability are. In your answer define what the mean, median, mode, variance, and standard deviation are. What is the difference between the descriptive standard deviation and the unbiased estimate of the standard deviation? When would you use the unbiased estimate?
Central tendency is to describe where the data are and variablityis how spread out the data are.. Variability tells on how constant the score are. The mean is the sum of all the values in a group divided by the number of the values in that group. The median is the average but of a different kind, the median in the midpoint in a set of scores, it is the half way point which is 50% the mode is the last measure of central tendency it is the precise measure of the central tendency. variances is used as a measure of how far a set of numbers are spread out from each other and the Standard deviation represents the average amount of variablity in a set of scores. The standard deviation is the square root of the variance.
Explain the characteristics of business forecasting.
According to a recent study, when shopping online for luxury goods, men spend a mean of $2,401, whereas women spend a mean of $1,527. Suppose that the study was based on a sample o
What is an example of a real life situation when I would use each of these test
Variance The term variance was used to describe the square of the standard deviation by R.A.Fisher. The concept of variance is highly important in areas where it is possible to
The total number of overtime hours (in 1000s) worked in a large steel mill was recorded for 16 quarters, as shown below. Year Quarter Overtime hour
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the sum of mean and variance ofabinomia distribution of 5 trials is 9/5, find the binomial distribution.
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.
Sampling Error It is the difference between the value of the actual population parameter and the sample statistic. Samples are used to arrive at conclusions regarding the p
12 shoppings in nairobi 38/week
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