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If the test is two-tailed, H1: μ ≠ μ 0 then the test is called two-tailed test and in such a case the critical region lies in both the right and left tails of the sampling distr
Weighted Arithmetic Mean Another aspect to be considered is the importance we assign to each observation. The arithmetic mean as we calculated it so far gives equal
You were recently hired by E&T Boats, Inc. to assist the company with its financial planning and to evaluate the company's performance. E&T Boats, Inc. builds and sells boats to o
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
Standard Error The measure of reliability of the estimating equation that we have developed is given by standard error of estimate. The standard error of estimate represented b
Q. The following system of equations illustrates the algebraic form of a partial (individual) market equilibrium model, which is a model of price (P) and quantity (Q) determination
Differentiate between prediction, projection and forecasting.
(1) What values can the response variable Y take in logistic regression, and hence what statistical distribution does Y follow? The response variable can take the value of either
Type of Variable in Regression Analysis There are two types of variable in regression analysis. These are: a. Dependent variable b. Independent variable
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