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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.
Deviation Measures The drawback of the range as a measure of dispersion is that it takes into account the values of only two data points - the largest and the smallest. One
Simulation When decisions are to be taken under conditions of uncertainty, simulation can be used. Simulation as a quantitative method requires the setting up of a mathematical
How do you change the base of the index
In a three-cornered paint ball duel, A, B, and C successively take shots at each other until only one of them remains paint free. Once hit, a player is out of the game and gets no
A researcher was interested lowering the high school dropout level in his county. He measured the reading level of students entering middle school (based on a standard test) and th
Theories of Business forecasting
I would like to know what the appropriate statistical test is for investigating an association between a nominal variable and an ordinal variable assuming normal distribution? It''
In an agricultural experiment, we wish to compare the yields of three different varieties of wheat. Call these varieties A, B and C. We have a ?eld that has been marked into a 3 *
Cause and Effect Even a highly significant correlation does not necessarily mean that a cause and effect relationship exists between the two variables. Thus, correlation does
Calculation of Degrees of Freedom First we look at how to calculate the number of DOF for the numerator. In the numerator since we calculate the variance from the sample means,
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