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Charts when the Mean and the Standard Deviation are not known We consider the data corresponding to the example of Piston India Limited. Since we do not know population mean a
Use only the rare event rule, and make subjective estimates to determine whether events are likely. For example, if the claim is that a coin favors heads and sample results consis
f(x,y)=c(6-x-y) ,o find P(X+Y
Theories of Business forecasting
Application of the chi Square Test
Frequency distribution A frequency distribution is a series where a number of items with similar values are put in separate groups or bunches. In other words a frequency distri
Systematic Sampling In Systematic Sampling each element has an equal chance of being selected, but each sample does not have the same chance of being selected. Here,
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 researcher hypothesized that the pulse rates of long-distance athletes differ from those of other athletes. He believed that the runners’ pulses would be slower. He obtained a ra
Advantages of Sampling Why should we settle on a sample instead of studying the entire population? Sampling has the following advantages over a census (study of the entire pop
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