Median: Formulas for Individual, Discrete and Continuous Series
1. Median for Individual Series In an individual series, data is ungrouped and needs to be arranged in ascending order. …
Econometrics
Arithmetic Mean: Formulas for Individual, Discrete and Continuous Series
1. Arithmetic Average in Individual Series Direct Method \[\bar{X} = \frac{\sum X}{N}\] Where; = Arithmetic Mean \(\sum {X}\) = Sum …
Definition and Scope of Statistics
Statistics is one of the most crucial branches of knowledge in modern education and research. It is often said that …
Properties of Good Estimator
Following are the small and large sample properties of a Good Estimator Small Sample Properties 1. Unbiased Estimator: Biased means …
Chi-SquareÂ
Chi-Square is an important non-parametric test and as such, rigid assumptions are necessary regarding the type of population we require …
Probability Definitions
The term probability has been interpreted in terms of four definitions : 1. Classical Definition of Probability: the classical definition …
Assumptions of Classical Linear Regression Model
Following are the assumptions underlying when we use method of Least Squares Assumption 1: Linear regression model The regression model …
Expected Values or Mathematical Expectations
The expected value, or mean, of a random variable is a measure of the central location for the random variable. …
Gauss – Markov Theorem / BLUE Properties
Given the assumptions of the classical linear regression model, the least-squares estimators, in the class of unbiased linear estimators, have …