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a) What is meant by secular trend? Discuss any two methods of isolating trend values in a time series.
The Null Hypothesis - H0: The random errors will be normally distributed The Alternative Hypothesis - H1: The random errors are not normally distributed Reject H0: when P-v
Scatter Diagram The first step in correlation analysis is to visualize the relationship. For each unit of observation in correlation analysis there is a pair of numerical value
Simulation When decisions are to be taken under conditions of uncertainty, simulation can be used. Simulation as a quantitative method requires the setting up of a mathematical
Find the minimum constant workforce: ABC Company, a manufacturer of roofing supplies, has developed monthly forecasts for roofing tiles. The forecasted demand and the expected
In the case of permanent magnet DC motor whose stator consists of a permanent magnet we can take the field current to be constant (i.e. a constant magnetic field) and it can be sho
Theories of Business forecasting
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
Find the Relation between two substance: The following table shows the results obtained in experiments aimed to determine how solubility of water in benzene depends on tempera
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
Investigate the use of fixed and percentile meshes when applying chi squared goodness-of-t hypothesis tests. Apply the oversmoothing procedure to the LRL data. Compare the res
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