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Explain what central tendency and variability are. In your answer define what the mean, median, mode, variance, and standard deviation are. What is the difference between the descriptive standard deviation and the unbiased estimate of the standard deviation? When would you use the unbiased estimate?
Central tendency is to describe where the data are and variability is how spread out the data are... Variability tells on how constant the score are. The mean is the sum of all the values in a group divided by the number of the values in that group. The median is the average but of a different kind, the median in the midpoint in a set of scores, it is the half way point which is 50% the mode is the last measure of central tendency it is the precise measure of the central tendency. Variances is used as a measure of how far a set of numbers are spread out from each other and the Standard deviation represents the average amount of variability in a set of scores. The standard deviation is the square root of the variance.
From the following information related to XYZ Ltd.; you are required to find out (a) contribution (b) Break-even point in units (c) Margin of safety, (d) Profit Total Fixed Costs
Mention the characteristics of Statistics. Explain any two applications of Statistics.
Less than 5 yrs 22 5-10 18 10-20 5 20-30 4 More than 30 1
tools and techniques used in quantitative research
Importance
Cash basis A basis for accounting whereby revenues are recorded only when received & expenses are recorded only that salaried with no regard to the era in which they be earned, in
A researcher has gathered data on the daily returns on a portfolio of call options over a recent 250-day period. The mean daily return has been 0.001 and the sample standard deviat
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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?
You notice at the gym that it appears more women tend to work out together, while more men tend to work out alone. To show whether this difference is significant, you collect data
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