## Uses of Coefficient of Variation

Uses of Coefficient of Variation Coefficient of variation is used to know the consistency of the data. By consistency we… Click here to read more

From basic to higher mathematics

Uses of Coefficient of Variation Coefficient of variation is used to know the consistency of the data. By consistency we… Click here to read more

Variance is another absolute measure of dispersion. It is defined as the average of the squared difference between each of… Click here to read more

Sheppard Corrections In grouped data the different observations are put into the same class. In the calculation of variation or… Click here to read more

Like combined mean, the combined variance or standard deviation can be calculated for different sets of data. Suppose we have… Click here to read more

Lack of symmetry is called skewness. If a distribution is not symmetrical then it is called a skewed distribution. So,… Click here to read more

Introduction Index numbers are meant to study changes in the effects of factors which cannot be measured directly. According to… Click here to read more

The main uses of index numbers are given below. Index numbers are used in the fields of commerce, meteorology, labour,… Click here to read more

They are simply rough indications of the relative changes. The choice of representative commodities may lead to fallacious conclusions as… Click here to read more

The following steps are considered for the construction of price index numbers. Object The first and most important step in… Click here to read more

In fixed base method, a particular year is generally chosen arbitrarily and the prices of the subsequent years are expressed… Click here to read more

In this method, there is no fixed base period; the year immediately preceding the one for which the price index… Click here to read more

There are two methods of constructing unweighted index numbers: (1) Simple Aggregative Method (2) Simple Average of Relative Method Simple Aggregative… Click here to read more

When all commodities are not of equal importance, we assign weight to each commodity relative to its importance and the… Click here to read more

The wholesale price index numbers indicate the general condition of the national economy. They measure the change in the prices… Click here to read more

Consumer price index numbers measure the changes in the prices paid by consumers for a special “basket” of goods and… Click here to read more

There are two methods to compute consumer price index numbers: (a) Aggregate Expenditure Method (2) Family Budget Method Aggregate Expenditure Method… Click here to read more

The statistical methods discussed so far are used to analyze data involving only one variable. Often an analysis of data… Click here to read more

Regression involves the study of equations. First we talk about some simple equations or linear models. The simplest mathematical model… Click here to read more

Let us consider an equation $$Y = 10 + 5{X^2}$$ By putting the values of $$X = 0,1,2,3,4$$ in this… Click here to read more

In a relationship in which one variable is independent and the other is dependent, some people use the terms ‘cause’… Click here to read more

A scatter diagram is a graphic picture of the sample data. Suppose a random sample of n pairs of observations… Click here to read more

Correlation is a technique which measures the strength of association between two variables. Both the variables $$X$$ and $$Y$$ may… Click here to read more

Linear Correlation Correlation is said to be linear if the ratio of change is constant. When the amount of output… Click here to read more

Positive Correlation A correlation in the same direction is called a positive correlation. If one variable increases the other also… Click here to read more

Perfect Correlation If there is any change in the value of one variable, the value of the other variable is… Click here to read more

The degree or level of correlation is measured with the help of the correlation coefficient or coefficient of correlation. For… Click here to read more

The correlation coefficient is symmetrical with respect to $$X$$ and $$Y$$, i.e. $${r_{XY}} = {r_{YX}}$$ The correlation coefficient is the… Click here to read more

Calculate and analyze the correlation coefficient between the number of study hours and the number of sleeping hours of different… Click here to read more

Curve Fitting Curve fitting is the process of introducing mathematical relationships between dependent and independent variables in the form of… Click here to read more

The given example explains how to find the equation of a straight line or a least square line by using… Click here to read more

Regression The word regression was first used by Frances Galton in 1985. It is defined as “The dependence of one… Click here to read more

Regression is concerned with the study of the relationship among variables. The aim of regression (or regression analysis) is to… Click here to read more

We live in a world of uncertainty, and we are surrounded by situations which are not fully under our control…. Click here to read more

The word experiment or random experiment is used when we want to make observations for a situation of uncertainty. The… Click here to read more

A complete list of all possible outcomes of a random experiment is called sample space or possibility space and is… Click here to read more

Any part of the sample space is called an event of probability. An event may contain one or more than… Click here to read more

The outcomes of a sample space are called equally likely if all of them have the same chance of occurring…. Click here to read more

Two events are called mutually exclusive or disjointed if they do not have any outcome common between them. If the… Click here to read more

Two events are called not mutually exclusive if they have at least one outcome in common. If the two events… Click here to read more

Exhaustive Events When a sample space $$S$$ is partitioned into some mutually exclusive events such that their union is the… Click here to read more

Sometimes the sample space $$S$$ is reduced in size and is called a reduced sample space. The symbol $${S_r}$$ may… Click here to read more

The term relative frequency is used for the ratio of the observed frequency of an outcome and the total frequency… Click here to read more

Probability is unusual and it has been defined in different manners. We can define probability in objective or subjective terms…. Click here to read more

A person may have some confidence or belief regarding the occurrence of some event, say A. The numerical measure of… Click here to read more

Introduction The word random is used quite commonly in our daily life. One may or may not know its meaning… Click here to read more

There are many uses of random numbers in statistics. One of the more important uses is in the selection of… Click here to read more

Example: Two balanced coins are to be tossed 10 times to record the number of heads each time. Use a… Click here to read more

A set of numerical values assigned to all possible outcomes of a random experiment are called random variables. The random… Click here to read more

A random variable $$X$$ is called discrete if it can assume a finite number of values. If two bulbs are… Click here to read more

A random variable is called continuous if it can assume all possible values in the possible range of the random… Click here to read more