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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.
The time series for RESI1, HI1 and COOK1 have appeared again with different outlier values even though the 17 outliers found early were removed.
Causality: The relating of the reasons to the effects they produce. Several investigations in medicine seek to establish the causal relations between the events, for instance, whi
The nonparametric Bayesian inference approach to using the finite mixture distributions for modelling data suspected of the containing distinct groups of observations; this approac
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
Pascal's triangle is an arrangement of numbers described by Pascal in his Traité du Triangle Arithmétique published in the year 1665 as 'The number in each cell is equal to in the
Computer-intensive methods : The statistical methods which require almost identical computations on the data repeated number of times. The term computer intensive is, certainly, a
Correlation matrix : A square, symmetric matrix with the rows and columns corresponding to the variables, in which the non diagonal elements are correlations between the pairs of t
Software which started out as the spreadsheet targeting at manipulating the tables of number for financial analysis, which has now developed into a more flexible package for workin
Bonferroni correction : A procedure for guarding against the rise in the probability of a type I error when performing the multiple signi?cance tests. To maintain probability of a
ACC – A pioneer in the Indian cement industry Associated Cement Companies Ltd. (ACC) came into existence in 1936, after the merger of 10 companies belonging to four important bus
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