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There are n seats on an airplane and n passengers have bought tickets. Unfortunately, the first passenger to enter the plane has lost his ticket and, so he just chooses a seat at r
The following are the various types of common averages used in statistical analysis given in the form of a chart. Figure 1
Objective of index numbers
Histogram: It is generally used for charting continuous frequency distribution. In histogram, data are plotted as a series of rectangle one over the other. Class intervals
Your company has developed a new product .Your company is a reputed company with 50% market share of same range of products. Your competitors also come with their new products equa
Statistics Can Lead to Errors The use of statistics can often lead to wrong conclusions or wrong estimates. For example, we may want to find out the average savings by i
construction of control chart,n chart
Advantages It is especially useful in case of open-end classes since only the position and not the values of items must be known. The median is also recommended if th
For the following claim, find the null and alternative hypotheses, test statistic, P-value, critical value and draw a conclusion. Assume that a simple random sample has been selec
A salesperson visits from house to house to sell her knives. The probability that she makes a sale at a random house is .3. Given that she makes a sale, the sale is worth $100 with
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