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Importance and Application of probability: Importance of probability theory is in all those areas where event are not certain to take place as same as starting with games of
There may be two values which occur with the same maximum frequency. The distribution is then called bimodal. In a bimodal distribution, the value of mode cannot be determined with
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
#In planning the teaching assignments for next semester, Mr. Hinton must have a teacher in each of the 7 grades during each of the 6 periods of the day. If he has 10 teachers to ch
Harmonic Mean The harmonic mean also called harmonic average, in the total numbers of items of variable divided by the sum of r reciprocals of the values of the variable. In
Education seems to be a very difficult field in which to use quality methods. One possible outcome measures for colleges is the graduation rate (the percentage of the students matr
Theories of Business forecasting
Caveat We must be careful when interpreting the meaning of association. Although two variables may be associated, this association does not imply that variation in the independ
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
Mathematical Properties The sum of deviations of the items from the arithmetic mean (taking signs into account) is always zero, i.e. = 0. The sum of
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