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Methods of Forecasting Various techniques which are generally used in business forecasting are as under: 1. Forecasting through the opinion of heads of department
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Statistician is searching the \home ground" effect and is studying 20 football games, of which 14 were won by the home team and 6 by the visitors. Therefore the game is a Bernoulli
Problem: A survey usually originates when an individual or an institution is confronted with an information need and the existing data are insufficient. Planning the questionn
Two individuals, player 1 and player 2, are competing in an auction to obtain a valuable object. Each player bids in a sealed envelope, without knowing the bid of the other player
A sample of college students and a separate sample of adults aged 30-59 were surveyed regarding the amount of fruit they eat each day. The results are shown in the histograms belo
How vital statistics are affects on our human life
Is the random vector (Trunk Space, Length, Turning diameter) of US car normally distributed? Why? If yes, find the unbiased estimators for the mean and variance matrix of (Trunk Sp
Large Sample Test for Mean A random sample of size n (n > 30) has a sample mean . To test the hypothesis that the population mean μ has a specified value μ 0 let us formu
Lorenz Curve It is a graphic method of measuring dispersion. This curve was devised by Dr. Max o Lorenz a famous statistician. He used this technique for wealth it i
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