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Use only the rare event rule, and make subjective estimates to determine whether events are likely. For example, if the claim is that a coin favors heads and sample results consis
Deviation Measures The drawback of the range as a measure of dispersion is that it takes into account the values of only two data points - the largest and the smallest. One
The regression line should be drawn on the scatter diagram in such a way that when the squared values of the vertical distance from each plotted point to the line are added, the to
Correlation The board of directors of Bata Company is faced with the problem of estimating what the annual sales might be in a shop to be opened in Bagpur where Bata has not op
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 interest rate on the three year loan is 0.087. Whereas the interest rate on the two year loan is 0.085 as given in A. Suppose that the liquidity premium at t=1 is 0.002 and tha
Simple Random Sampling In Simple Random Sampling each possible sample has an equal chance of being selected. Further, each item in the entire population also has an equal chan
The Harmonic Mean is based on the reciprocals of numbers averaged. It is defined as the reciprocal of the arithmetic mean of the reciprocal of the given individual observations. Th
a) List down several measures of central tendency and define the difference among them? b) What do you mean by confidence interval, and why it is useful? What is a confidence lev
Linear Regression Generally, in two mutually related statistical series, the regression analysis based on graphic method. Under graphic method the values of X and Y variable
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