Question

In: Statistics and Probability

Q38 Answer the following questions about variability of data sets: [4 Marks] (a) What is the...

Q38 Answer the following questions about variability of data sets: [4 Marks]

(a) What is the primary disadvantage of using the range to compare the variability of data sets?

(b) Describe the sample variance using words rather than a formula. Do the same with the population variance.

(c) Can the variance of a data set ever be negative? Explain.

(d) Can the variance ever be smaller than the standard deviation? Explain.

DO NOT WRITE THE ANSWERS - USE WORD FORMAT.

NO PLAGIARISM IN THE ANSWERS PLEASE - WILL SEND BACK QUESTION IF THERE IS.

Solutions

Expert Solution


Related Solutions

Answer the following questions about variability of data sets: How would you describe the variance and...
Answer the following questions about variability of data sets: How would you describe the variance and standard deviation in words, rather than a formula? Think of what you are calculating and how it might be useful in describing a variable. What is the primary advantage of using the inter-quartile range compared with the range when describing the variability of a variable? Can the standard deviation ever be larger than the variance? Explain. Can the variance ever be negative? Why or...
Question 4 15 MARKS Answer the following questions: a) What is a sunk cost? (2 marks)...
Question 4 15 MARKS Answer the following questions: a) What is a sunk cost? b) Under what circumstances are sunk costs relevant to a decision? c) Construct an example of a sunk cost. d) Briefly discuss why you think financial reports for investors and managerial reports for managers may or may not differ in their treatment of sunk costs.
Answer the following questions on the basis of the three sets of data for the country...
Answer the following questions on the basis of the three sets of data for the country of North Vaudeville: Price Level A Real GDP A Price level B Real GDP B Price Level C Real GDP C 110 290 100 215 110 240 100 265 100 240 100 240 95 240 100 265 95 240 90 215 100 290 90 240 a. Which set of data illustrates aggregate supply in the immediate short-run in North Vaudeville?      Which set of...
Answer the following questions on the basis of the three sets of data for the country of North Vaudeville:
 Answer the following questions on the basis of the three sets of data for the country of North Vaudeville: a. Which set of data illustrates aggregate supply in the immediate short-run in North Vaudeville? The data in (Click to select). Which set of data illustrates aggregate supply in the short run in North Vaudeville? The data in (Click to select) ). Which set of data illustrates aggregate supply in the long run in North Vaudeville? The data in (Click to select) . b. Assuming no change in...
Answer the following questions on the basis of the three sets of data for the country of North Vaudeville
Answer the following questions on the basis of the three sets of data for the country of North Vaudeville  a. Which set of data illustrates aggregate supply in the immediate short-run in North Vaudeville? The data in (Click to select) Which set of data illustrates aggregate supply in the short run in North Vaudeville? The data in (Click to select) Which set of data illustrates aggregate supply in the long run in North Vaudeville? The data in (Click to select) b. Assuming no change in hours of...
Give a brief answer to each of the following four (4) questions: (a) (2 marks) Explain...
Give a brief answer to each of the following four (4) questions: (a) Explain the difference between a Type 1 and a Type II error. (b) If you want to reduce the margin of error of an estimate of a mean, what are the two things can you do? (c) Explain the difference between an independent samples t-test and paired t-test. (d) State and explain the Central Limit Theorem (CLT) for the sample mean when the population distribution is (i)...
These questions are about an abstract data type for sets of integers. The representation used will...
These questions are about an abstract data type for sets of integers. The representation used will be sorted lists without duplicates. To help answer the questions, the following pseudocode of merge-sort for lists may be useful. It is assumed head(x) and tail(x) return the head (first element) and tail (remaining elements) of a list, respectively, and a procedure is available for splitting a list into two lists of approximately equal size. // returns sorted version of list x mergesort(x):        ...
Answer the following questions related to “Type HE” cement What property of this cement sets it...
Answer the following questions related to “Type HE” cement What property of this cement sets it apart from type GU? What are the benefits of using this type of cement? How does this type of cement differ from Type GU cement with respect to the relative amounts of C2S, C3S and C3A?
Team 3 answer the following questions 1-What are 4 key things you learned about the topic...
Team 3 answer the following questions 1-What are 4 key things you learned about the topic from reading their paper? 2-How does the topic relate to you and your current or past job? 3-Critique the paper in terms of the organization and quality. Organizational Culture and its Effect on the Corporate Environment            An organization is a commercial or non-commercial place of business created for a particular purpose, where individuals from many different backgrounds, both educational and personal, come together...
(a) Please use the data below to answer the following questions about how an economy behaves...
(a) Please use the data below to answer the following questions about how an economy behaves over the long-run. Please show all formulae and calculations in your answer. Nominal money supply growth = 7% p.a. Real income growth = 2% p.a. Real interest rate = 2% Using the same data from part (a), explain what will happen to the value of the nominal exchange rate over the long-run. Assume that inflation in the rest of the world is 2% per...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT