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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
Statistical Errors Statistical data are obtained either by measurement or by observation. Hence to think of perfect accuracy is only a delusion or a myth, It is no
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
#questionMaximize Z= 3x1 + 2X2 Subject to the constraints: X1+ X2 = 4 X1 - X2 = 2 X1, X2 = 0..
A country''s national accounts are assumed to look as follows: GDP 1180 VAT and taxes 140 Commodity subsidies 60 Raw material and consumables 530 1. Calculate GVA 2. Calculate t
Using a random sample of 670 individuals for the population of people in the workforce in 1976, we want to estimate the impact of education on wages. Let wage denote hourly wage in
discuss the advantages and disadvantages of measures of dispersions
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
Significance of Correlation The study of correlation is of immense use in practical life. Correlation analysis contributes to the understanding of economic behavior, aids in lo
what are characteristics of a population for which it would be appropiate to use mean/median/mode
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