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If the sample size is less than 30, then we need to make the assumption that X (the volume of liquid in any cup) is normally distributed. This forces (the mean volume in the sam
Large Sample Test for Mean A random sample of size n (n > 30) has a sample mean . To test the hypothesis that the population mean μ has a specified value μ 0 let us formu
(1) What values can the response variable Y take in logistic regression, and hence what statistical distribution does Y follow? The response variable can take the value of either
Differentiate between prediction, projection and forecasting.
The State Department of Taxation wishes to investigate the effect of experience, x, on the amount of time, y, required to fill out Form ST 1040AVG, the state income-averaging form.
A researcher hypothesized that the pulse rates of long-distance athletes differ from those of other athletes. He believed that the runners’ pulses would be slower. He obtained a ra
(a) Average rainfall during the month of January is found to be 58 mm. A Class A pan evaporation recorded an average of 8.12 mm/day near an irrigation reservoir. The average
Theories of Business forecasting
Arithmetic Mean The process of computing Arithmetic Mean in the case of individual observations is to take the sum of the values of the variable and then divide by the number
Consider a Cournot duopoly with two firms (fi rm 1 and fi rm 2) operating in a market with linear inverse Demand P(Q) = x Q where Q is the sum of the quantities produced by both
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