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Advantages of Sampling Why should we settle on a sample instead of studying the entire population? Sampling has the following advantages over a census (study of the entire pop
why we use dummy variable
Formation of Continuous Frequency Distribution: Continuous frequency distribution is most popular in practice. With reference to the formation of this type of frequency distr
Disadvantages For calculating median it is necessary to arrange the data; other averages do not need any arrangement. Since it is a positional average, its value is not d
You are going to purchase a part from a specialty vendor. Your company needs a C p of at least 1.67 on a critical dimension of the part. The dimensional specification for this p
Arithmetic Mean The process of computing Arithmetic Mean in the case of individual observations is to take the sum of the values of the variable and then divide by the number
Estimate a linear probability model: Consider the multiple regression model: y = β 0 +β 1 x 1 +.....+β k x k +u Suppose that assumptions MLR.1-MLR4 hold, but not assump
Confirmatory factor analysis (CFA) seeks to determine whether the number of factors and the loadings of measured (indicator) variables on them conform to what is expected on the ba
PCA is a linear transformation that transforms the data to a new coordinate system such that the greatest variance by any projection of the data comes to lie on the first coordinat
There are two types of drivers, high-risk drivers with an accident probability of 2=3 and low risk drivers with an accident probability of 1=3. In case of an accident the driver su
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