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Cluster Sampling Here the population is divided into clusters or groups and then Random Sampling is done for each cluster. Cluster Sampling differs from Stratified Sampl
The quick method for a confidence interval for a proportion uses as an approximation for a 95% confidence interval. The margin of error in this case is slightly larger tha
Universe or Population The word universe as used in statistics denotes the aggregate from which a sample is to be taken. According to Simpson and Kafka, a universe or populatio
Consider a Cournot duopoly with two firms (fi rm 1 and fi rm 2) operating in a market with linear inverse Demand P(Q) = x Q where Q is the sum of the quantities produced by both
If the economy does well, the investor's wealth is 2 and if the economy does poorly the investor's wealth is 1. Both outcomes are equally likely. The investor is offered to invest
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Celia is a nurse in a geriatric ward. She noticed that older persons in her care are having problems sleeping at night. She decided to introduce non-pharmocologic ways of relaxat
Index Number Meaning and Definitions of Index Number The index numbers are the special type of averages which are presented in percentages and computed on certain base.
Types of business forecasting are generally as follows: 1. Sales and Demand forecasts 2. Porduction forecasts. 3. Cost Forecasts 4. Financi
Consider the following linear regression model: a) What does y and x 1 , x 2 , . . . . x k represent? b) What does β o , β 1 , β 2 , . . . . β k represent?
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