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Explanation of standard deviation and variance
Describe the importance of standard deviation and variance, what they calculate and why they are required.
Importance of charts and graphs
Describe the siginificant of charts and graphs in conveying information.
Testing of Hypothesis One objective of sampling theory is Hypothesis Testing. Hypothesis testing begins by making an assumption about the population parameter. Then we gather
Examine properties of good average with reference to AM, GM, HM, MEAN MEDIAN MODE
"index number is an economic barometer" comment on this statement
As one of the oldest multivariate statistical methods of data reduction, Principal Component Analysis (PCA)simplifies a dataset by producing a small number of derived
In a study of outcomes for patients who had been in the Intensive care Unit (ICU) at a large hospital, the records from last 150 patients who had been in the ICU for more than one
Standard Deviation The main drawback of the deviation measures of dispersion, as discussed earlier, is that the positive and negative deviations cancel out each other. Use of t
Construct index numbers of price for the following data by applying: i) Laspeyre’s method ii) Paasche’s method iii) Fisher’s Ideal Index number
Bernoulli's Theorem If a trial of an experiment can result in success with probability p and failure with probability q (i.e.1-p) the probability of exactly r success in n tri
The Quality Manager of a battery manufacturing plant reviewed the warranty records within his department and found that 4% of the low maintenance batteries produced at the plant ov
We are interested in assessing the effects of temperature (low, medium, and high) and technical configuration on the amount of waste output for a manufacturing plant. Suppose that
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