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The Null Hypothesis - H0: The random errors will be normally distributed
The Alternative Hypothesis - H1: The random errors are not normally distributed
Reject H0: when P-value ≤ α = 0.05
As the P value is 0.043 it is less than the 0.05 significance level therefore reject H0 and accept H1 as there is sufficient evidence to show that random errors are not normally distributed. The assumption of normality is possibly satisfied as the normal probability plot is close to the straight line.
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
Application of the chi Square Test
There are 15 types of ice cream: A,B,C,D,E,F,G,H,I,J,K,L,M,N, and O. How many combinations are there to sample 5 flavors if you sample 1 flavor 4 times? How many combinations are t
For calculating the mode of the grouped data graphically, the following procedure is adopted. Draw a histogram of the data; the modal class is the tallest rectangle.
Assume that the normal distribution applies and find the critical z value(s). A = 0.04; H1 is mean ≠ 98.6 degrees Fahrenheit. Dteremine the value of Z. Find the value of the
Caveat We must be careful when interpreting the meaning of association. Although two variables may be associated, this association does not imply that variation in the independ
Objective of index numbers
In a three-cornered paint ball duel, A, B, and C successively take shots at each other until only one of them remains paint free. The three paint ballers have different probabiliti
#quesgraphical representation of data
Coefficient of Determination The coefficient of determination is given by r 2 i.e., the square of the correlation coefficient. It explains to what extent the variation
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