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The calculations of arithmetic mean may be simple and foolproof, but the application of the result may not be so foolproof. An arithmetic mean may not merely lack significance; it may well be positively misleading. Mean should never be accepted as significant without supporting credentials
discuss the advantages and disadvantages of measures of dispersions
The total number of overtime hours (in 1000s) worked in a large steel mill was recorded for 16 quarters, as shown below. Year Quarter Overtime hour
method of least square
In PCA the eigknvalues must ultimately account for all of the variance. There is no probability,'no hypothesis, no test because strictly speaking PCA is not a statistical procedure
The State Department of Taxation wishes to investigate the effect of experience, x, on the amount of time, y, required to fill out Form ST 1040AVG, the state income-averaging form.
Root Mean Square Deviation The standard deviation is also called the ROOT MEAN SQUARE DEVIATION. This is because it is the ROOT (Step 4) of the MEAN (Step 3) o
Meaning and Definitions of Business Forecasting The problem of business forecasting refers to the analysis of the past and present economic conditions. With the objectiv
Applications of Standard Error Standard Error is used to test whether the difference between the sample statistic and the population parameter is significant or is d
Theories of Business forecasting
Multivariate analysis of variance (MANOVA) is a technique to assess group differences across multiple metric dependent variables simultaneously, based on a set of categorical (non-
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