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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.
Ask questioThe finance manager of ‘Softy’ baby soap manufacturing company being successful in the first two years of the company’s operations is considering setting up another plan
Conditional probability : The probability that an event occurs given the outcome of other event. Generally written, Pr(A|B). For instance, the probability of a person being color b
Hypergeometric distribution is t he probability distribution related with the sampling without replacement from the population of finite size. If the population comprises of r ele
difference between histogram and historigram
O. J. Simpson paradox is a term coming from the claim made by the defence lawyer in murder trial of O. J. Simpson. The lawyer acknowledged that the statistics demonstrate that onl
an oil company is considering whether or not to bid for an offshore drilling contract. The bid would cost $60 with a 65% chance of gaining the contract. Outcome success Probability
The GRE has a combined verbal and quantitative mean of 1000 and a standard deviation of 200.
A rule for computing the number of classes to use while constructing a histogram and can be given by here n is the sample size and ^ γ is the estimate of kurtosis.
Mauchly test is a test which a variance-covariance matrix of pair wise differences of responses in the set of longitudinal data is the scalar multiple of identity matrix, a proper
The transformation of the Pearson's product moment correlation coefficient, r, can be given by The statistic z has the normal distribution with mean here ρ is the pop
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