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The incidence of occupational disease in an industry is such that the workers have a 20% chance of suffering from it. What is the probability that out of six workers 4 or more will contract the disease?
Mean Absolute Deviation To avoid the problem of positive and negative deviations canceling out each other, we can use the Mean Absolute Deviation which is given by
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
Chi-square analysis can be used with both Goodness-of-Fit Tests and with Tests for Independence. There are specific instances when each test should be used based on the information
What is a null hypothesis? ..
Mode The mode is the value which occurs most frequently in a set of observations on the point of maximum frequency and around which other items of the set cluste
Explain any two applications of statistics
Consider the linear transformation (a) Find the image of (3 , -2 , 2) under T. (b) Does the vector (5, 3) belong to the range of T? (c) Determine the matrix of the transf
Circles or Pie Diagram: Circles or pie diagrams are alternative to squares. These are used for the same purpose i.e. when the values are differing widely in their magnitude
Consider a Cournot duopoly with two firms (fi rm 1 and fi rm 2) operating in a market with linear inverse Demand P(Q) = x Q where Q is the sum of the quantities produced by both
A) The three images shown below were blurred using square masks of sizes n=23, 25, and 45, respectively. The vertical bars on the le_ lower part of (a) and (c) are blurred, but a c
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