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Advantages It is especially useful in case of open-end classes since only the position and not the values of items must be known. The median is also recommended if th
Mathematical Properties The sum of deviations of the items from the arithmetic mean (taking signs into account) is always zero, i.e. = 0. The sum of
In the context of multivariate data analysis, one might be faced with a large number of v&iables that are correlated with each other, eventually acting as proxy of each other. This
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Rank Correlation Sometimes the characteristics whose possible correlation is being investigated, cannot be measured but individuals can only be ranked on the basis of the chara
Arithmetic Average or Mean The arithmetic mean is the most widely and the most generally understandable of all the averages. This is clear from the reason that when the term
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There are two diagnostic tests for a disease. Among those who have the disease, 10% give negative results on the first test, and independently of this, 5% give negative results on
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
Your company has developed a new product .Your company is a reputed company with 50% market share of same range of products. Your competitors also come with their new products equa
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