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Caveat We must be careful when interpreting the meaning of association. Although two variables may be associated, this association does not imply that variation in the independ
Weighted Arithmetic Mean Another aspect to be considered is the importance we assign to each observation. The arithmetic mean as we calculated it so far gives equal
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
Estimate the standard deviation of the process: Draw the X (bar) and R charts for the data given and give your comments about the process under study. Estimate the standard de
Harmonic Mean The harmonic mean also called harmonic average, in the total numbers of items of variable divided by the sum of r reciprocals of the values of the variable. In
1 A penny is tossed 5 times. a. Find the chance that the 5th toss is a head b. Find the chance that the 5th toss is a head, given the first 4 are tails.
For many decades, there has been considerable attention paid to identifying various factors that help to reduce the number of fatalities on Australian roads. In 1964 Victoria and S
Question: A car was machine washes each car in 5 minutes exactly. It has been estimated that customers will arrive according to a Poisson distribution at an average of 8 per hour.
First Moment of Dispersion or Mean Deviation Mean deviation or the average deviation is the measure if dispersion which is based upon all the items in a variable .It is the a
introduction of median
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