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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
discuss the mathematical test of adequacy of index number of formulae. prove algebraically that the laspeyre, paasche and fisher price index formulae satisfies this test. What is
The following table shows the results of fitting a linear regression model of starting annual salaries on a constant, GPA (4 point scale), and a variable (Metrics =1) indicating wh
You have an assembly line which produces 1L bottles of seltzer with a standard deviation of 0.05L. • Assuming the distribution of volume is normal, what is the chance any single
The Harmonic Mean is based on the reciprocals of numbers averaged. It is defined as the reciprocal of the arithmetic mean of the reciprocal of the given individual observations. Th
Standard Deviation The main drawback of the deviation measures of dispersion, as discussed earlier, is that the positive and negative deviations cancel out each other. Use of t
A new weight-watching company, Weight Reducers International, advertises that those who join will lose, on the average, 10 pounds the first two weeks with a standard deviation of 2
The project of building a backyard swimming pool consists of eight major activities and has to be completed within 19 weeks. The activities and related data are given in the follow
1. Calculate the mean and mode of: Central size 15 25 35 45 55 65 75 85 Frequencies 5 9 13 21 20 15 8 3 The following data shows the monthly expenditure of 80 students of
applications of normal probability distribution
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