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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.
Regression Coefficient While analysing regression in two related series, we calculate their regression coefficients also. There are two regression coefficients like two regress
Statistical Errors Statistical data are obtained either by measurement or by observation. Hence to think of perfect accuracy is only a delusion or a myth, It is no
how can i calculate seasonal index?
Consider the following linear regression model: a) What does y and x 1 , x 2 , . . . . x k represent? b) What does β o , β 1 , β 2 , . . . . β k represent?
Coefficient of Variation The standard deviation discussed above is an absolute measure of dispersion. The corresponding relative measure is known as the coefficient of vari
Empirical Mode Where mode is ill-defined, its value may be ascertained by the following formula based upon the empirical relationship between Mean, Median and Mode: Mode = 3
To determine the proportion of people in your town who are smokers, it has been decided to poll people at one of the following local spots: (a) the pool hall; (b) the bowling alley
Arithmetic Mean The process of computing Arithmetic Mean in the case of individual observations is to take the sum of the values of the variable and then divide by the number
Characteristics of Index Number On the analysis of various definitions of index number the following may be its characteristics: 1. Expressed in Number : Index number
Mathematical Properties The sum of deviations of the items from the arithmetic mean (taking signs into account) is always zero, i.e. = 0. The sum of
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