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The following are the various types of common averages used in statistical analysis given in the form of a chart.
Figure 1
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Andrews ‘Plots A graphical display of multivariate data in which an observation, x0 = [x1, x2, . . . , xq] is represented can be represented in the form of function A set
Advantages By definition, mode is the most typical or representative value of a distribution. Hence, when we talk of modal wage, modal size of shoe or modal size of family i
Disadvantages The value of mode cannot always be determined. In some cases we may have a bimodal series. It is not capable of algebraic manipulations. For example, from t
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Suppose both the Repair record 1978 and Company headquarters are believed to be significant in explaining the vector (Price, Mileage, Weight). Here, because of the limited sample s
b. A paper mill produces two grades of paper viz., X and Y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grade Y
Stratified Sampling Stratified Sampling is generally used when the population is heterogeneous. In this case, the population is first subdivided into several parts (or s
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