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Differentiate between prediction, projection and forecasting.
practical application of standard error
how to interpret results, a good explanation to help me understand.
Admissibility A very common concept which is applicable to any procedure of the statistical inference. The underlying notion is that the procedure/method is admissible if and o
Deviation Measures The drawback of the range as a measure of dispersion is that it takes into account the values of only two data points - the largest and the smallest. One
Complete the multiple regression model using Y and your combined X variables. State the equation. Next, make sure that you evaluate overall model performance with the Anova table
Origin and Development of probability Theory: The credit for origin and development of probability goes to the European gamblers of 17 th century. They used to gamble on gam
Collect data about the chosen business problem or opportunity at the company. Explain how you obtained a suitable sample of either qualitative or quantitative data. Review data f
Testing of Hypothesis One objective of sampling theory is Hypothesis Testing. Hypothesis testing begins by making an assumption about the population parameter. Then we gather
Estimate the standard deviation of the process: Draw the X (bar) and R charts for the data given and give your comments about the process under study. Estimate the standard de
Grouped Data In order to find the median, the median class is to be first located and then interpolation is to be used by assuming that items are evenly spaced over the entire
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