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discuss the advantages and disadvantages of measures of dispersions
There are situations where none of the three averages is fully satisfactory. For example, if the number of items in a series is very small, none of these av
What statistics can be obtained from a circulatory lab?
Lorenz Curve It is a graphic method of measuring dispersion. This curve was devised by Dr. Max o Lorenz a famous statistician. He used this technique for wealth it i
Consider three stocks A, B and C costing $100 each. The annual returns on the three stocks have mean $5 and variance $10. a. Suppose that the returns on the three stocks are i.i
what the purpose we use it
Methods of Forecasting Various techniques which are generally used in business forecasting are as under: 1. Forecasting through the opinion of heads of department
There are two types of drivers, high-risk drivers with an accident probability of 2=3 and low risk drivers with an accident probability of 1=3. In case of an accident the driver su
Sampling Error It is the difference between the value of the actual population parameter and the sample statistic. Samples are used to arrive at conclusions regarding the p
The decision maker ranks lotteries according to the utility function (i) State the independence assumption. Does this decision maker satisfy it? (ii) Is this decision ma
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