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The Harmonic Mean is based on the reciprocals of numbers averaged. It is defined as the reciprocal of the arithmetic mean of the reciprocal of the given individual observations. Th
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
Meaning and Definitions of Business Forecasting The problem of business forecasting refers to the analysis of the past and present economic conditions. With the objectiv
Simple Linear Regression While correlation analysis determines the degree to which the variables are related, regression analysis develops the relationship between the var
In a three-cornered paint ball duel, A, B, and C successively take shots at each other until only one of them remains paint free. The three paint ballers have different probabiliti
The decision maker ranks lotteries according to the utility function (i) State the independence assumption. Does this decision maker satisfy it? (ii) Is this decision ma
Purposive or Judgement Sampling Under this method of sampling, the choice of selection of sample items from the universe depends exclusively on the judgement of the investi
Show how the Normal bin width rule can be modi ed if f is skewed or kurtotic. Examine the eff ect of bimodality. Compare your rules to Doane's (1976) extensions of Sturges' rule.
solve problems
Weighted Arithmetic Mean Another aspect to be considered is the importance we assign to each observation. The arithmetic mean as we calculated it so far gives equal
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