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Mean Absolute Deviation To avoid the problem of positive and negative deviations canceling out each other, we can use the Mean Absolute Deviation which is given by
Advantages It is especially useful in case of open-end classes since only the position and not the values of items must be known. The median is also recommended if th
Mode The mode is the value which occurs most frequently in a set of observations on the point of maximum frequency and around which other items of the set cluste
The Tastee Bakery Company supplies a bakery product to many supermarkets in a metropolitan area. The company wishes to study the effect of shelf display height employed by the supe
Jocko's Garage has been accused of insurance fraud. Data on estimates made by Jocko and another garage were obtained for 10 damaged vehicles (available in 'jockogarage.txt'). Here
Statistics Can Lead to Errors The use of statistics can often lead to wrong conclusions or wrong estimates. For example, we may want to find out the average savings by i
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
Correlation Analysis Correlation Analysis is performed to measure the degree of association between two variables. The measure is called coefficient of correlation. The coeffic
The manager of Pizza Hut provides a delivery service for customers who telephone in an order. The manager would like to give callers an idea of the time it will take to deliver an
Melissa Bakery is preparing for the coming thanksgiving festival. The bakery plans to bake and sell its favourite cookies; butter cookies, chocolate cookies and almond cookies. A k
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