Description : Define weighted index number
Last Answer : Ans: Weighted index number is an index in which weights are assigned to that index.
Description : What is Paasche’s Index Number?
Last Answer : Ans:In this method current year quantities are used as weights for price index and current year prices for quantity index.
Description : What is Laspeyre’s Index Number?
Last Answer : Ans:In this method base year quantities are used as weights for price index and base year prices for quantity index.
Description : Write down the classification of an index number.
Last Answer : Ans: Index number generally classified as 1. Simple index number. 2. Composite index number.
Description : What are the limitations of index number?
Last Answer : 1. All index numbers are not suitable for all purposes. They are suitable for the purpose for which they constructed. 2. Comparisons of changes in variables over long period are not reliable ... product. 5. The index numbers obtained by different methods of construction may give different results.
Description : What are the uses of index number?
Last Answer : Ans: Uses of Index Numbers 1. The price index numbers are used to measure change in the price of a commodities. It helps in comparing the changes in the prices of one commodity with another. ... time series. 7. The index numbers measure the purchasing power of money and determine the real wages.
Description : What is composite index number?
Last Answer : Ans: It is number that measures an average relative change in a group of related variables with respect to a base. Composite Index number are further classified as: (1) Un-weighted composite Index Number (2) Weighted Composite Index Number
Description : What is simple index number?
Last Answer : Ans: A simple index numbers that measure a relative change in a single variable with respect to a base these variables are Prices, Quantity, Cost of Living etc.
Description : What is quantity index number?
Last Answer : Ans:A statistical measure reflecting the average of relative change in the quantities of specified goods & services between two periods of time is called quantity index number.
Description : What is price index number?
Last Answer : Ans: An index that traces the relative changes in the price of an individual good (or a market basket of goods) over time.
Description : What are the types of index number?
Last Answer : Ans: There are two types of an index number (i) Simple Index Number (ii) Composite Index Number.
Description : What is an Index Number?
Last Answer : Ans: “An index number is a specialized average designed to measure the relative change in the value of variable or group of related variables with reference to change in time or location”.
Description : Define Dependent Event.
Last Answer : Ans: If there are two events i.e. A in sample space 1 (S1) and B in sample space 2 (S2) and occurrence or non-occurrence of one event affects the occurrence and nonoccurrence of other event then it is called dependent event.
Description : Define Independent Event.
Last Answer : Ans: If there are two events i.e. A in sample space 1 (S1) and B in sample space 2 (S2) and occurrence or non-occurrence of one event does not affect the occurrence and non-occurrence of other event then it is called independent event.
Description : Define Equally Likely Event.
Last Answer : Ans: If two events A & B have equal chance of occurrence in sample space S then the event will be Equally Likely Event.
Description : Define Not-Mutually Exclusive events.
Last Answer : Ans: If two events A & B have some thing common in sample space S then the event will be Not-Mutually exclusive event.
Description : Define Mutually Exclusive events.
Last Answer : Ans: If two events A & B have nothing common in sample space S then the event will be mutually exclusive event.
Description : Define Impossible event.
Last Answer : Ans: An event of sample space contains none of the possible outcome is called impossible event and is denoted by Greek letter φ.
Description : Define possible event.
Last Answer : Ans: An event of sample space contains at least one possible outcome is called possible event.
Description : Define compound event.
Last Answer : Ans: An event of sample space contains at least two outcomes is called compound event these may be denoted by any letter A to Z.
Description : Define simple event.
Last Answer : Ans: An event of sample space contains only one outcome is called simple event.
Description : Define an event. What are its types?
Last Answer : Ans: A single result of an experiment or any desired sub set of the sample space is called and event and it may be denoted by any letter A to Z. it has two main types (1) Possible event & (2 ... (1) simple event (2) compound event and compound event has one more type which is sure or certain event.
Description : Define Sample Point.
Last Answer : Ans: The elements of the sample space or possible outcome of a given random experiment is called sample point.
Description : Define Sample Space or possible outcomes.
Last Answer : Ans: All possible outcomes of an experiment are called sample space and is denoted by “S” i.e. in toss of coin the sample space will be two (Head & Tail) & in throwing a die it will be 6 (1, 2, 3, 4, 5, 6)
Description : Define Probability.
Last Answer : Ans: Probability is the measurement of uncertainty which consists on occurrence or non-occurrence of an event.
Description : Define an experiment/random experiment/trial?
Last Answer : Ans: In probability, experiment or trial is simply an action in which the result is uncertain or simply uncertain situation in statistics is called Random Experiment (R.E).
Description : Define price relative.
Last Answer : Ans: Price in current year divided by price of base year and multiplied by 100 is simply called price relative.
Description : Define link relative.
Last Answer : Ans: Price of current period divided by price of immediate previous period multiplied by 100 is called link relative.
Description : Define Chain Base method.
Last Answer : Ans: In this method index number is computed in two steps. As a first step, we calculate link relative by dividing current period price/quantity/value by price/quantity/value of immediate ... relative by link relative of immediate previous period of current period and divide this product by 100.
Description : Define Mode with examples.
Last Answer : Ans: Most repeated value of the given data is called mode for example if X=2, 2, 3, 4, 5, 5, 5, 6, 8, 10. In this data most repeated value is 5 so our mode will be 5.
Description : Define Arithmetic Mean.
Last Answer : Ans: It is the most commonly used average or measure of the central tendency applicable only in case of quantitative data. Arithmetic mean is also simply called “mean”. Arithmetic mean is defined as: “Arithmetic mean is quotient of sum of the given values and number of the given values”.
Description : Define cumulative frequency distribution.
Last Answer : Ans: A table showing the cumulative frequency distribution is called the cumulative frequency distribution or a cumulative frequency distribution is a summary of a set of data showing the frequency (or number) of items less than or equal to the upper class limit of each class.
Description : Define Histogram.
Last Answer : Ans: Histogram is a set of adjacent rectangles in which area of each rectangle is proportional to the corresponding class frequency and class size.
Description : Define class mark.
Last Answer : Ans: The class marks or mid point is the mean of lower and upper class limits or boundaries. So it divides the class into two equal parts. It is obtained by dividing the sum of lower and upper class limit or class ... . For Example: The class mark or mid point of the class 60 - 69 is 60 69/2 = 64.5
Description : Define class interval.
Last Answer : Ans: The difference between the upper and lower class boundaries (not between class limits) of a class or the difference between two successive mid points is called size of class interval.
Description : Define class limits.
Last Answer : Ans: The variant values of the classes or groups are called the class limits. The smaller value of the class is called lower class limit and larger value of the class is called upper class limit. ... 19, the smaller value 10 is lower class limit and larger value 19 is called upper class limit.
Description : Define tabulation.
Last Answer : Ans: The process of placing classified data into tabular form is known as tabulation. A table is a symmetric arrangement of statistical data in rows and columns. Rows are horizontal arrangements ... vertical arrangements. It may be simple, double or complex depending upon the type of classification.
Description : Define attribute by giving example.
Last Answer : Ans: Attribute represents the quality or character. For example color of eyes, type of mangoes, beauty etc.
Description : Define continuous data and give two examples.
Last Answer : Ans: Data which can be described by a continuous variable is called continuous data. For e.g. age of persons, speed of car, temperature at a place, income of a person, height of a plant, a life time of a T.V tube etc
Description : Define population and sample.
Last Answer : Ans: Total group under discussion is called population. For example height of all class students. A part of population which represents the population is called sample.
Description : Define discrete variable by giving examples.
Last Answer : Ans: A variable which can assume only some specific values within a given range is called discrete variable. For e.g. Number of students in a class, Number of houses in a street, number of children in a family etc. it can’t occur in decimal.
Description : Define discrete and continuous variable.
Last Answer : Ans: A variable which can assume only some specific values within a given range is called discrete variable. For e.g. Number of students in a class, Number of houses in a street, number of children in a family etc. ... at a place, income of a person, height of a plant, a life time of a T.V tube etc.
Description : Define Statistics in your own words.
Last Answer : Ans: Statistics is the science which deals with data. After collection & organization of data, it is further analyzed statistically and interpreted. It is the science of average, counting & probability.
Description : What is a BCD? What are its advantages and disadvantages? Why is an excess-3 code is called an unweighted code?
Last Answer : Ans-BCD means Binary coded decimal its advantage is it can represent decimal numbers in the form of binary value says (0000-0 to 1001-9). Binary codes are divided into weighted binary code and non weighted binary ... not have weights says like ones tens hundred in decimal and 2^0 2^1 2^2 in binary.
Description : What number is a different random number every day?
Last Answer : answer:So here's the algorithm I'm using now: 1. Take the number of days since a certain day (e.g. 1 January 1970), so at September 11 2013 it is 15960). 2. Divide that number by the amount of ... 5, etc. until 9 where it will start at 1 again. I want the numbers to not be that easily predictable.
Description : Do rape statistics take into account the number of unreported rapes?
Last Answer : No because they are unreported so there is no way to know if they really happened
Description : Using the data in question 7, calculate number of observations that are two or more sample standard deviations from the sample mean. a. 0 b. 1 c. 2 d. 3
Last Answer : a. 0
Description : Does your state list all covid cases in your state?
Last Answer : My county reports to the state of Georgia, and the numbers are based on the number of positive tests in the county. This assembled from both medical offices (hospitals, doctors offices, etc.) ... the state). There is no subcategory in the statistics for state residents versus non-state residents.
Description : When it comes to the COVID pandemic, what statistics are important to you?
Last Answer : 1. Daily positive cases in my state and the positivity rate 2. I am also interested in knowing where the likely sources of positivity came from: tourists versus community transmission. 3. Percentage of beds ... Dept. of Health, and we provide some of these data points daily. I trust the department.
Description : Stats homework question?
Last Answer : Read your course notes or follow this tutorial. https://www.mathsisfun.com/data/binomial-distribution.html