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Multi stage or Cluster Random sampling Under this method, the random selection is made of primary, intermediate and final units from a given population. The area of investigat
Bill Clinton reportedly was paid $10 million to write his book My Way. The book took three years to write. In the time he spent writing, Clinton could have been paid to make speech
Suppose that before the minimum wage law change, the underlying mean number of part-time employees per Burger King Restaurant in New Jersey was 20.3. It was thought that the increa
If the sample size is less than 30, then we need to make the assumption that X (the volume of liquid in any cup) is normally distributed. This forces (the mean volume in the sam
Statistician is searching the \home ground" effect and is studying 20 football games, of which 14 were won by the home team and 6 by the visitors. Therefore the game is a Bernoulli
Steps in ANOVA The three steps which constitute the analysis of variance are as follows: To determine an estimate of the population variance from the variance that exi
prove standard deviation of natural natural numbers
Universe or Population The word universe as used in statistics denotes the aggregate from which a sample is to be taken. According to Simpson and Kafka, a universe or populatio
Explanation of standard deviation and variance Describe the importance of standard deviation and variance, what they calculate and why they are required. Importance of char
Exercise: (Binomial and Continuous Model.) Consider a binomial model of a risky asset with the parameters r = 0:06, u = 0:059, d = 0:0562, S0 = 100, T = 1, 4t = 1=12. Note that u
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