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As one of the oldest multivariate statistical methods of data reduction, Principal Component Analysis (PCA)simplifies a dataset by producing a small number of derived variables that are uncorrelated and that account for most of the variation in the original data set. Eventually, the derived variables are combinations of the original variables. For example, it might be ?hat students take 10 examinations and some students do well in one exam whilst other students do better in another. It is difficult to compare one student with another when we have marks from 10 examinations to consider. One obvious way of comparing students is to calculate tlie mean score. This is a constructed combination of the existing variables,. However. we may get a more useful comparison of overall performances by considering other constructed combinations of the 10 exam marks. The PCA is one way of constructing such combinations, doing so in such ewakas to account for as much as possible of the variation in the original data. One can then compare students' performance by considering this much sn~aller number of variables.
Melissa Bakery is preparing for the coming thanksgiving festival. The bakery plans to bake and sell its favourite cookies; butter cookies, chocolate cookies and almond cookies. A k
Geometric Mean is defined as the n th root of the product of numbers to be averaged. The geometric mean of numbers X 1 , X 2 , X 3 .....X n is given as
Why are graphs and tables useful when examining data? A researcher is comparing two middle school 7th grade classes. One class at one school has participated in an arts program
Consider a Cournot duopoly with two firms (firm 1 and firm 2) operating in a market with linear inverse Demand P(Q) = x Q where Q is the sum of the quantities produced by both
Having 11 numbered balls -0 to 10 -into a basket and have 6 spaces to be numbered with the balls selected in each 6 chances and it returned it back to the basket each time. Chanc
Make a decision about the given claim. Use only the rare event rule, and make subjective estimates to determine whether events are likely. For example, if the claim is that a coi
Weighted Harmonic Mean Weighted Harmonic Mean is calculated with the help of the following formula: WHM Case
A real estate agency collected the data shown below, where y = sales price of a house (in thousands of dollars) x 1 = home size (in hundreds of square f
WHAT YOU MEAN BY UTILITY OF MANAGERIALECONOMICS
how to compute reliability coefficient for extracted factors in factor analysis?
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