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Sampling A Population is a collection of all the data points being studied. For example, if we are studying the annual incomes of all the people in India, then the population
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As one of the oldest multivariate statistical methods of data reduction, Principal Component Analysis (PCA)simplifies a dataset by producing a small number of derived
Charts when the Mean and the Standard Deviation are not known We consider the data corresponding to the example of Piston India Limited. Since we do not know population mean a
Median Median is a position average. It is the value of middle item of a variable when the items are arranged according to their values either in ascending or descending order.
Admissibility A very common concept which is applicable to any procedure of the statistical inference. The underlying notion is that the procedure/method is admissible if and o
Standard Deviation The main drawback of the deviation measures of dispersion, as discussed earlier, is that the positive and negative deviations cancel out each other. Use of t
Correlation Analysis Correlation Analysis is performed to measure the degree of association between two variables. The measure is called coefficient of correlation. The coeffic
Mean Absolute Deviation To avoid the problem of positive and negative deviations canceling out each other, we can use the Mean Absolute Deviation which is given by
Dr. Jim Mirabella UNIT EIGHT: DATA ANALYSIS PROJECT All Excel output should be copied into a single Word document where you must enter all of your responses to the questions below.
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