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The median, as the name suggests, is the middle value of a series arranged in any of the orders of magnitude i.e. ascending or descending order.
As distinct from the arithmetic mean which is calculated from the value of every item in the series, the median is what is called a positional average. The term 'position' refers to the place of a value in the series. The median is just the 50th percentile value below which 50% of the values in the sample fall. The object of median is, therefore, not merely to fix a value that shall be representative of a set, but also to establish a dividing line separating the higher from the lower values.
1 A penny is tossed 5 times. a. Find the chance that the 5th toss is a head b. Find the chance that the 5th toss is a head, given the first 4 are tails.
Flow Chart for Confidence Interval We can now prepare a flow chart for estimating a confidence interval for μ, the population parameter. Figure
Stratified Sampling Stratified Sampling is generally used when the population is heterogeneous. In this case, the population is first subdivided into several parts (or s
Scenario : Mrs dick's year 1s and 2s carried out a level-one science investigation to explain the changes in a particular plant over a period of time. As part of the investigation
Features of index numbers
1. Suppose you are estimating the imports (from both the U.S. mainland and foreign countries) of fuels and petroleum products in Hawaii (the dependent variable). The values of the
introduction of median
In this problem, we use the CSDATA data set, which is available in 'CSDATA.txt'. We do ne an indicator variable, say HIGPA, to be 1 if the GPA is 3.0 or better and 0 other- wise. S
You were recently hired by E&T Boats, Inc. to assist the company with its financial planning and to evaluate the company's performance. E&T Boats, Inc. builds and sells boats to o
Prediction Inte rval We would like to construct a prediction interval around which would contain the actual Y. If n ≥ 30, ± Zs e would be the interval, where Z
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