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Lorenz Curve It is a graphic method of measuring dispersion. This curve was devised by Dr. Max o Lorenz a famous statistician. He used this technique for wealth it i
two application of statistics
What is an example of a real life situation when I would use each of these test
In a study of outcomes for patients who had been in the Intensive care Unit (ICU) at a large hospital, the records from last 150 patients who had been in the ICU for more than one
Two individuals, player 1 and player 2, are competing in an auction to obtain a valuable object. Each player bids in a sealed envelope, without knowing the bid of the other player
You will recall the function pnorm() from lectures. Using this, or otherwise, Dteremine the probability of a standard Gaussian random variable exceeding 1.3. Using table(), or
Consider an MBA program as a processing network where the flow unit consists of a student in the program. Suppose the organizations that hire and promote MBAs are considered to be
Cluster Sampling This method is also known as multi stage sampling .Under this method random selection is made of the ultimate or final units from a given stratum. The sampling
Geometric Mean The geometric mean of numbers is defined as the th root of the product of numbers .It is obtained by multiplying all the values of a variable and then extracti
The Quality Manager of a battery manufacturing plant reviewed the warranty records within his department and found that 4% of the low maintenance batteries produced at the plant ov
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