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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
Simulation When decisions are to be taken under conditions of uncertainty, simulation can be used. Simulation as a quantitative method requires the setting up of a mathematical
What would be the cutoff score to indicate a score that is in the top 15% of the scores on a test with a mean of 100 and a standard deviation of 15? This question has multiple p
Education seems to be a very difficult field in which to use quality methods. One possible outcome measures for colleges is the graduation rate (the percentage of the students matr
Lifts usually have signs indicating their maximum capacity. Consider a sign in a lift that reads "maximum capacity 1400kg or 20 persons". Suppose that the weights of lift-users are
b. A paper mill produces two grades of paper viz., X and Y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grade Y
how many types of ogive are there
Risk of Portfolios So far, we have seen the application of standard deviation in the context of risk in single investment. But usually most investors hold portfolios of securi
Chi-square analysis can be used with both Goodness-of-Fit Tests and with Tests for Independence. There are specific instances when each test should be used based on the information
how is a free hand graph secular trend method plotted
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