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Range is the difference between the largest and smallest observations in the data set. Commonly used as an easy-to-calculate measure of the dispersion in the set of observations but not recommended for this task because of its sensitivity to the outliers and the fact that its value increases with the sample size.
Mann Whitney test is a distribution free test which is used as an alternative to the Student's t-test for assessing that whether the two populations have the same median. The test
elements , importance, limitation, and theories
Q1: The growth in bad debt expense for Aptara Pvt. Ltd. Company over the last 20 years is as follows. 1997 0.11 1998 0.09 1999 0.08 2000 0.08 2001 0.1 2002 0.11 2003 0.12 2004 0.1
Paul Jordan has just been hired as a management analyst at Digital Cell Phone Inc. Digital Cell manufactures a broad line of phones for the consumer market. Paul's boss, John Smith
Pie chart is an extensively used graphical technique for presenting relative frequencies related with the observed values of the categorical variable. The chart comprises of a cir
The term used for the estimation of the misclassification rate in the discriminant analysis. Number of techniques has been proposed for two-group situation, but the multiple-group
Harris and Stevens forecasting is the method of making short term forecasts in the time series which is subject to abrupt changes in pattern and the transient effects. Instances o
Median absolute deviation (MAD) : It is the very robust estimator of the scale given by the following equation or, in other words we can say that, the median of the absolute
This is extension of the EM algorithm which typically converges more slowly than EM in terms of the iterations but can be much faster in the whole computer time. The general idea o
A law supposedly applicable to voting behaviour which has a history of several decades. It may be stated thus: Consider a two-party system and suppose that the representatives of t
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