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Factor analysis (FA) explains variability among observed random variables in terms of fewer unobserved random variables called factors. The observed variables are expressed in
Rank Correlation Sometimes the characteristics whose possible correlation is being investigated, cannot be measured but individuals can only be ranked on the basis of the chara
Coefficient of Variation The standard deviation discussed above is an absolute measure of dispersion. The corresponding relative measure is known as the coefficient of vari
A marketing research firm was engaged by an automobile manufacturer to conduct a pilot study to examine the feasibility of using logistic regression for ascertaining the likelihood
the president of a certain firm concerned about the safety record of the firms employee sets aside $50 million a year for safety education. the firms accountant believes that more
The following are the various types of common averages used in statistical analysis given in the form of a chart. Figure 1
In PCA the eigknvalues must ultimately account for all of the variance. There is no probability,'no hypothesis, no test because strictly speaking PCA is not a statistical procedure
calcation
Systematic Random Sampling This method is generally used in such cases where a complete list of the population is available from which sample has to be selected. Under this
PROPERTIES 1. The value of standard deviation remains the same if, in a series each of the observation is increased or decreased by a constant quantity. In statistical lan
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