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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.
Frequency distribution A frequency distribution is a series where a number of items with similar values are put in separate groups or bunches. In other words a frequency distri
Methods of Forecasting Various techniques which are generally used in business forecasting are as under: 1. Forecasting through the opinion of heads of department
In reduced rank regression (RRR), the dependent variables are first submitted to a PCA and the scores of the units are then used as dependent variables in a series of
Q. Find the inverse Laplace transform of Y (s) = s-4/s 2 + 4s + 13 +3s+5/s 2 - 2s -3. Q. Use the Laplace transform to solve the initial value problem y''+ y = cos(3t), y(0) =
Features of index numbers
Characteristics of Index Number On the analysis of various definitions of index number the following may be its characteristics: 1. Expressed in Number : Index number
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
Ten balls are put in 6 slots at random.Then expected total number of balls in the two extreme slots
Consider the linear transformation (a) Find the image of (3 , -2 , 2) under T. (b) Does the vector (5, 3) belong to the range of T? (c) Determine the matrix of the transf
Examples of grouped, simple and frequency distribution data
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