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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
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
For the following questions we are interested in a comparison of the 16 years education vs. > 16 years. (Recall we did the analysis on the log scale, so these are actual means on t
what is the aim of statistics?
If the data set contains an odd number of items, the middle item of the array is the median. If there is an even number of items, the median is the average of the two items. If the
The following table shows the results of fitting a linear regression model of starting annual salaries on a constant, GPA (4 point scale), and a variable (Metrics =1) indicating wh
Ten balls are put in 6 slots at random.Then expected total number of balls in the two extreme slots
Use the information given below to find the P-value. Also, use a 0.05 significance level and state the conclusion about the null hypothesis (reject the null hypothesis or fail to
Definition of Central Tendency The central tendency of a variable means a typical value around which other values tend to concentrate which can be measured. Such concentration
Explain what central tendency and variability are. In your answer define what the mean, median, mode, variance, and standard deviation are. What is the difference between the descr
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