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If the sample size is less than 30, then we need to make the assumption that X (the volume of liquid in any cup) is normally distributed. This forces (the mean volume in the sample) to be normal.
If V(X) = is known,
If V(X) is not known, ~ tn-1.
In simple regression the dependent variable Y was assumed to be linearly related to a single variable X. In real life, however, we often find that a dependent variable may depend o
implications of multicollinearity
how do i determine the 40th percentile in an ogive graph
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
In the early 1990s researchers at The Ohio State University studied consumer ratings of six fast-food restaurants: Borden Burger, Hardee's, Burger King, McDonald's, Wendy's, and Wh
Risk of Portfolios So far, we have seen the application of standard deviation in the context of risk in single investment. But usually most investors hold portfolios of securi
Example of discrete random variable: 1. What is a discrete random variable? Give three examples from the field of business. 2. Of 1000 items produced in a day at XYZ Manufa
Simulation When decisions are to be taken under conditions of uncertainty, simulation can be used. Simulation as a quantitative method requires the setting up of a mathematical
Estimate a linear probability model: Consider the multiple regression model: y = β 0 +β 1 x 1 +.....+β k x k +u Suppose that assumptions MLR.1-MLR4 hold, but not assump
The calculations of arithmetic mean may be simple and foolproof, but the application of the result may not be so foolproof. An arithmetic mean may not merely lack
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