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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.
Rank Correlation Sometimes the characteristics whose possible correlation is being investigated, cannot be measured but individuals can only be ranked on the basis of the chara
Solve the following Linear Programming Problem using Simple method. Maximize Z= 3x1 + 2X2 Subject to the constraints: X1+ X2 = 4 X1 - X2 = 2 X1, X2 = 0
Methods of Forecasting Various techniques which are generally used in business forecasting are as under: 1. Forecasting through the opinion of heads of department
While there are p original variables the number of principal components is m such that m
Explain the characteristics of business forecasting.
Linear Regression Generally, in two mutually related statistical series, the regression analysis based on graphic method. Under graphic method the values of X and Y variable
The data in the data frame compensation are from Myers (1990), Classical andModern Regression with Applications (Second Edition)," Duxbury. The response y here is executive compens
There are situations where none of the three averages is fully satisfactory. For example, if the number of items in a series is very small, none of these av
how much that cost ?
Types of cost-reimbursable contracts are: Cost Plus Fixed Fee contract (CPPF): Compensation is based on a fixed sum independent of the final project cost. The customer a
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