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Origin and Development of probability Theory: The credit for origin and development of probability goes to the European gamblers of 17 th century. They used to gamble on gam
Differentiate between prediction, projection and forecasting.
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
In PCA the eigknvalues must ultimately account for all of the variance. There is no probability,'no hypothesis, no test because strictly speaking PCA is not a statistical procedure
Meaning and Definitions of Regression The dictionary meaning of regression is just opposite the meaning of progression. Progression means to move forward while regression means
Significance of Correlation The study of correlation is of immense use in practical life. Correlation analysis contributes to the understanding of economic behavior, aids in lo
Explain the characteristics of business forecasting.
Statistical Process Control The variability present in manufacturing process can either be eliminated completely or minimized to the extent possible. Eliminating the variabilit
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
A researcher computed the F ratio for a four-group experiment. The computed F is 4.86. The degrees of freedom are 3 for the numerator and 16 for the denominator. 1. Is the computed
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