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Uses
Arithmetic mean is widely used because of the following reasons:
Mean is the simplest average to understand and easy to compute.
It is relatively reliable in the sense that it does not vary too much when repeated samples are taken from one and the same population, at least not as much as some other kind of statistical descriptions.
The mean is typical in the sense that it is the center of gravity balancing the values on either side of it.
Using a random sample of 670 individuals for the population of people in the workforce in 1976, we want to estimate the impact of education on wages. Let wage denote hourly wage in
Andrews ‘Plots A graphical display of multivariate data in which an observation, x0 = [x1, x2, . . . , xq] is represented can be represented in the form of function A set
characteristic of latin square design
There exists an unclassified data set with hidden data structures in it. The task in this assignment is to perform comprehensive Cluster Analysis in order to reveal the structures
Theories of Business forecasting
Normal Distribution Meaning: According to ya Lun Chou There perfectly smooth and symmetrical curve, resulting from the expansion of the binomial (p+q) n when n approac
Chemical processors manufacture wondercool using two processes- mixing and distillation. The following details relate to the distillation process for a period. No opening work i
Statistical Definition of probability: Ques: (a) (i) Distinguish Statistical Definition of probability from the Classical Definition. (ii) State the A
Cluster Sampling This method is also known as multi stage sampling .Under this method random selection is made of the ultimate or final units from a given stratum. The sampling
Motion Picture Industry (95 Points) The motion picture industry is a competitive business. More than 50 studios produce a total of 300 to 400 new motion pictures each year, and t
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