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Coefficient of Variation or C.V.
To compare the variability between or more series, coeffiecnt of variation is used, it is relative measure of dispersion, it innovated and used by Karl person in1895 for the first time .as such it is known as karl person coefficient of variation, in the words of karl Pearson coefficient of variation is the percentage variation in the mean the standard deviation being treated as the total variation in the mean in other words coefficient of variation is 100 times of coefficient of standard deviation, this measure of dispersion is used to compare the variability homogeneity , stability and consistency between two or more distribution ,the following formula is used. Coefficient of variation = standard deviation /Mean x100.
Geometric Mean is defined as the n th root of the product of numbers to be averaged. The geometric mean of numbers X 1 , X 2 , X 3 .....X n is given as
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Importance of official statistic
Explain any two applications of statistics
Your company has developed a new product .Your company is a reputed company with 50% market share of same range of products. Your competitors also come with their new products equa
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Significance of Correlation The study of correlation is of immense use in practical life. Correlation analysis contributes to the understanding of economic behavior, aids in lo
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In the early 1990s researchers at The Ohio State University studied consumer ratings of six fast-food restaurants: Borden Burger, Hardee's, Burger King, McDonald's, Wendy's, and Wh
Root Mean Square Deviation The standard deviation is also called the ROOT MEAN SQUARE DEVIATION. This is because it is the ROOT (Step 4) of the MEAN (Step 3) o
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