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What does the confidence level of a confidence interval tell you? Suppose that a population has mean, µ, and standard deviation, σ. What does the central limit theorem tell us
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
Your organization purchases bottles of a popular commercial solvent for resale. Each bottle is labeled as containing 32 fluid ounces of the solvent. Your cont
Importance of official statistic
Uses Arithmetic mean is widely used because of the following reasons: Mean is the simplest average to understand and easy to compute. It
The Harmonic Mean is based on the reciprocals of numbers averaged. It is defined as the reciprocal of the arithmetic mean of the reciprocal of the given individual observations. Th
find the expected value of the mean square error and of the mean square reggression
Advantages By definition, mode is the most typical or representative value of a distribution. Hence, when we talk of modal wage, modal size of shoe or modal size of family i
practical application of standard error
f(x,y)=c(6-x-y) ,o find P(X+Y
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