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two application of statistics
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
Construct your initial multivariate model by selecting a dependent variable Y and two independent variables X. Clearly define what each variable represents and how this relates t
X 110 120 130 120 140 135 155 160 165 155 Y 12 18 20 15 25 30 35 20 25 10
Types of business forecasting are generally as follows: 1. Sales and Demand forecasts 2. Porduction forecasts. 3. Cost Forecasts 4. Financi
Explanation of standard deviation and variance Describe the importance of standard deviation and variance, what they calculate and why they are required. Importance of char
A.The coupon rate of Erie-Chicago Rail is 7%. The interest rate of Florida municipal bond with equal risk is 6%. At what tax rate the two bonds are as good as each other B.Supp
Statistics Can Lead to Errors The use of statistics can often lead to wrong conclusions or wrong estimates. For example, we may want to find out the average savings by i
A medical researcher has 100 bone cancer patients in a study. Every patient's condition is one of six types, type \A" to type \F". The 100 patients split as follows: x There
Statistical Process Control The variability present in manufacturing process can either be eliminated completely or minimized to the extent possible. Eliminating the variabilit
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