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Mathematical Properties
The sum of deviations of the items from the arithmetic mean (taking signs into account) is always zero, i.e. = 0.
The sum of the squared deviations of the items from arithmetic mean is less than the sum of the squared deviations of the items from any other value, i.e. is less than where A is any other point, different from .
Since, = , (N x ) = .
If we have the arithmetic mean and number of items of two or more than two groups, we can compute combined average of these groups, by applying the following formula:
where,
If the economy does well, the investor's wealth is 2 and if the economy does poorly the investor's wealth is 1. Both outcomes are equally likely. The investor is offered to invest
Systematic Random Sampling This method is generally used in such cases where a complete list of the population is available from which sample has to be selected. Under this
How do you change the base of the index
Quota sampling Under this method enumerators shall select the respondents in place of those not available, as per the quota fixed according to guide lines provided to them.
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