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Meaning of Interpolation and Extrapolation
Interpolation is a method of estimating the most probable missing figure on the basis of given data under certain assumptions. On the other head if such figure is required to be estimated for the future period outside the series, it is called extrapolation .In the words of Hirish. Interpolation is the estimating of a most likely estimate under given conditions. The technique of estimating a past figure is termed as interpolation , while estimating for future is called extrapolation, W.M. Harper has defined as interpolation consists in reading a value which lies between two extreme points. Extrapolation means reading a values that lies outside the two extreme points.
Circles or Pie Diagram: Circles or pie diagrams are alternative to squares. These are used for the same purpose i.e. when the values are differing widely in their magnitude
Calculation for Continuous Series or Grouped Data = where, m = mid-point of class =
Use only the rare event rule, and make subjective estimates to determine whether events are likely. For example, if the claim is that a coin favors heads and sample results consis
The manager of Pizza Hut provides a delivery service for customers who telephone in an order. The manager would like to give callers an idea of the time it will take to deliver an
In this problem, we use the CSDATA data set, which is available in 'CSDATA.txt'. We do ne an indicator variable, say HIGPA, to be 1 if the GPA is 3.0 or better and 0 other- wise. S
Each section of the SAT test is supposed to be distributed normally with a mean of 500 and a standard deviation of 100. Suppose 5 students in a class took the SAT math test. They r
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
Factor analysis (FA) explains variability among observed random variables in terms of fewer unobserved random variables called factors. The observed variables are expressed in
Regression Lines It has already been discussed that there are two regression lines and they show mutual relationship between two variable . The regression line Yon X gives th
Arithmetic Average or Mean The arithmetic mean is the most widely and the most generally understandable of all the averages. This is clear from the reason that when the term
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