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A consumer preference study involving three different bottle designs (A, B, and C) for the jumbo size of a new liquid detergent was carried out using a randomized block experimenta
From the information given, what seems to be the main flaw in each of the following statistical generalisations? (i) Banking industry employees are facing a crisis, if their
Define sampling unit and population for selecting a random sample in every case. a) 100 voters from a constituency b) 20 stocks of National Stock Exchange c) 50 account ho
Mode Mode is the value of the observation which occurs with the greatest frequency and thus it is the most fashionable value, Mode has been derived from French word La m
Scatter Diagram The first step in correlation analysis is to visualize the relationship. For each unit of observation in correlation analysis there is a pair of numerical value
The incidence of occupational disease in an industry is such that the workers have a 20% chance of suffering from it. What is the probability that out of six workers 4 or more will
Cluster Sampling This method is also known as multi stage sampling .Under this method random selection is made of the ultimate or final units from a given stratum. The sampling
Example of discrete random variable: 1. What is a discrete random variable? Give three examples from the field of business. 2. Of 1000 items produced in a day at XYZ Manufa
Simple Linear Regression While correlation analysis determines the degree to which the variables are related, regression analysis develops the relationship between the var
Replacement times for TV sets are normally distributed with a mean of 8.2 years and a standard deviation of 1.1 years. Find the replacement time that separates the top 20% from the
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