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Advantages By definition, mode is the most typical or representative value of a distribution. Hence, when we talk of modal wage, modal size of shoe or modal size of family i
Standard Error The measure of reliability of the estimating equation that we have developed is given by standard error of estimate. The standard error of estimate represented b
Grouped Data In order to find the median, the median class is to be first located and then interpolation is to be used by assuming that items are evenly spaced over the entire
what does it mean by moving average?
There are 15 types of ice cream: A,B,C,D,E,F,G,H,I,J,K,L,M,N, and O. How many combinations are there to sample 5 flavors if you sample 1 flavor 4 times? How many combinations are t
Chebychev inequality
Simple Linear Regression One calculate of the risk or volatility of an individual stock is the standard deviation of the total return (capital appreciation plus dividends) over
Using Chi Square Test when more than two Rows are Present To understand this, let us consider the contingency table shown below. It gives us the information about the stage
Each weekend, Derek either reads a book (B), goes to the cinema (C), visits his local museum (M), or plays squash (S). If he reads a book one weekend, then he will take part in one
give a elementary example for characterstics of index number
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