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Lorenz Curve It is a graphic method of measuring dispersion. This curve was devised by Dr. Max o Lorenz a famous statistician. He used this technique for wealth it i
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)
The quick method for a confidence interval for a proportion uses as an approximation for a 95% confidence interval. The margin of error in this case is slightly larger tha
You will recall the function pnorm() from lectures. Using this, or otherwise, Dteremine the probability of a standard Gaussian random variable exceeding 1.3. Using table(), or
There are n seats on an airplane and n passengers have bought tickets. Unfortunately, the first passenger to enter the plane has lost his ticket and, so he just chooses a seat at r
Sampling A Population is a collection of all the data points being studied. For example, if we are studying the annual incomes of all the people in India, then the population
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
Construct your initial multivariate model by selecting a dependent variable Y and two independent variables X. Clearly define what each variable represents and how this relates t
Random Sampling Method In this method the units are selected in such a way that every item in the whole universe has an equal chance of being included. In the words of croxton
Make a decision about the given claim. Use only the rare event rule, and make subjective estimates to determine whether events are likely. For example, if the claim is that a coi
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