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Applications of Standard Error Standard Error is used to test whether the difference between the sample statistic and the population parameter is significant or is d
Replacement times for CD players are normally distributed with a mean of 7.1 years and standard deviation of 1.4years. Find the probability that a randomly selected CD player will
Uses Arithmetic mean is widely used because of the following reasons: Mean is the simplest average to understand and easy to compute. It
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Q. Find relative maxima and minima? When finding relative maxima and minima in the Chapters absolute extrema problem, don't forget to use the first or second derivative test to
Convenience Sampling It means a convenient sample is obtained by selecting convents units from the universe. Convenient sample is also known as chunk. It means a fraction of
Q. The following system of equations illustrates the algebraic form of a partial (individual) market equilibrium model, which is a model of price (P) and quantity (Q) determination
Skewness Meaning and Definition Literal meaning of skewness is lack of symmetry; it is a numerical measure which reveals asymmetry of a statistical series. According t
Median Median is a position average. It is the value of middle item of a variable when the items are arranged according to their values either in ascending or descending order.
If the test is two-tailed, H1: μ ≠ μ 0 then the test is called two-tailed test and in such a case the critical region lies in both the right and left tails of the sampling distr
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