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why we use dummy variable
Admissibility A very common concept which is applicable to any procedure of the statistical inference. The underlying notion is that the procedure/method is admissible if and o
what the purpose we use it
Explanation of standard deviation and variance Describe the importance of standard deviation and variance, what they calculate and why they are required. Importance of char
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
Grouped data For grouped data, the formula applied is σ = Where f = frequency of the variable, μ= population mea
(1) Assume we categorize voters in a city as havingless educationand those havingmoreeducation. Those with less education have less than a college degree; those with more education
Measures of Dispersion Box 3: Food vs. Oil Below are the figures for foodgrain procurement and cr
Consider the following new business venture. An agent is considering investment in one of three real estate parcels: • Option 1: multiunit rentals • Option 2: commercial building
Meaning of Interpolation and Extrapolation Interpolation is a method of estimating the most probable missing figure on the basis of given data under certain assumptions. On t
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