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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
Universe or Population The word universe as used in statistics denotes the aggregate from which a sample is to be taken. According to Simpson and Kafka, a universe or populatio
how can we graph a trend line by semiaverages and least square method?
a. How can break-even analysis be used in selecting a new plant site? b. What are potential advantages and disadvantage of locating a production facility in foreign country i
The manager of Pizza Hut provides a delivery service for customers who telephone in an order. The manager would like to give callers an idea of the time it will take to deliver an
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
Scenario: Many of the years 5 and year 6 learners' at Woodlands Park School were excited about being chosen for the cross-country team. Every day, they were able to run laps of t
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
1. Definition of decision tree, 2. Feature of decision theory problem
mark number of student 0-10 4 10-20 8 20-30 11 30-40 15 40-50 12 50-60 6 calculate frequency distribution
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