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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.
the sum of mean and variance ofabinomia distribution of 5 trials is 9/5, find the binomial distribution.
Geometric Mean The geometric mean of numbers is defined as the th root of the product of numbers .It is obtained by multiplying all the values of a variable and then extracti
TYPE I AND II Errors If a statistical hypothesis is tested, we may get the following four possible cases: The null hypothesis is true and it is accepted; The
Explain the characteristics of business forecasting.
for this proportion, use the +-2 rule of thumb to determine the 95 percent confidence interval. when asked if they are satisfied with their financial situation, .29 said "very sat
In 120 tosses of a coin, 45 heads and 75 tails are observed. Is this a balanced coin? Use a=0.05. (Follow the basic steps of hypothesis testing)
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
Lifts usually have signs indicating their maximum capacity. Consider a sign in a lift that reads "maximum capacity 1400kg or 20 persons". Suppose that the weights of lift-users are
Jocko's Garage has been accused of insurance fraud. Data on estimates made by Jocko and another garage were obtained for 10 damaged vehicles (available in 'jockogarage.txt'). Here
defin fair game
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