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Uses
Arithmetic mean is widely used because of the following reasons:
Mean is the simplest average to understand and easy to compute.
It is relatively reliable in the sense that it does not vary too much when repeated samples are taken from one and the same population, at least not as much as some other kind of statistical descriptions.
The mean is typical in the sense that it is the center of gravity balancing the values on either side of it.
The data in the data frame compensation are from Myers (1990), Classical andModern Regression with Applications (Second Edition)," Duxbury. The response y here is executive compens
Objective of index numbers
Quota sampling Under this method enumerators shall select the respondents in place of those not available, as per the quota fixed according to guide lines provided to them.
construction of control chart,n chart
Of the 6,325 kindergarten students who participated in the study, almost half or 3,052 were eligible for a free lunch program. The categorical variable sesk (1 == free lunch, 2 = n
The manager of Pizza Hut provides a delivery service for customers who telephone in an order. The manager would like to give callers an idea of the time it will take to deliver an
The Null Hypothesis - H0: The random errors will be normally distributed The Alternative Hypothesis - H1: The random errors are not normally distributed Reject H0: when P-v
Related Positional Measures Besides median, there are other measures which divide a series into equal parts. Important amongst these are quartiles, deciles and percentiles.
Cartogram or Mapograph: Statistical maps are also used to represent data like density of population indifferent states in the country or different countries in the world or th
Explain the characteristics of business forecasting.
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