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What does the sample standard deviation best estimate?
The standard deviation of the population. the standard deviation of the population.
How standard deviation and Mean deviation differ from each other?
There is 1) standard deviation, 2) mean deviation and 3) mean absolute deviation. The standard deviation is calculated most of the time. If our objective is to estimate the variance of the overall population from a representative random sample, then it has been shown theoretically that the standard deviation is the best estimate (most efficient). The mean deviation is calculated by first calculating the mean of the data and then calculating the deviation (value - mean) for each value. If we then sum these deviations, we calculate the mean deviation which will always be zero. So this statistic has little value. The individual deviations may however be of interest. See related link. To obtain the means absolute deviation (MAD), we sum the absolute value of the individual deviations. We will obtain a value that is similar to the standard deviation, a measure of dispersal of the data values. The MAD may be transformed to a standard deviation, if the distribution is known. The MAD has been shown to be less efficient in estimating the standard deviation, but a more robust estimator (not as influenced by erroneous data) as the standard deviation. See related link. Most of the time we use the standard deviation to provide the best estimate of the variance of the population.
Is cubit standard?
Few ancient measurements were 'standard'. Generally two people doing business agreed on the standard between them. A cubit was a body-based measurement - supposedly the length of a forearm. To the best of my knowledge, only the 'carob' was a standard measurment - as the seeds of the carob are, apparently, always the same weight.
Which property of a measurement is best estimated from the percent error?
Measurement error: obviously!
What is best Interquartile range or Median absolute deviation?
The answer depends on the purpose. The interquartile range and the median absolute deviation are both measures of spread. The IQR is quick and easy to find whereas the MAD is not.
Why standard deviation is best measure of dispersion?
standard deviation is best measure of dispersion because all the data distributions are nearer to the normal distribution.
Is the standard deviation best thought of as the distance from the mean?
No. A small standard deviation with a large mean will yield points further from the mean than a large standard deviation of a small mean. Standard deviation is best thought of as spread or dispersion.
Why is standard deviation called the best of all measures of dispersion?
standard deviation is the best measure of dispersion because.. a)It measure the absolute dispersion b)It is most frequentlyused as prossesses almost all the the qualities that a good measure of variation have. c)It is beased on all observation. d)It is rigidly defined. e)It is capable of further algebraic treatment. f)It is least affected by the fluctuation of sampling.
What does the sample standard deviation best estimate?
The standard deviation of the population. the standard deviation of the population.
How standard deviation and Mean deviation differ from each other?
There is 1) standard deviation, 2) mean deviation and 3) mean absolute deviation. The standard deviation is calculated most of the time. If our objective is to estimate the variance of the overall population from a representative random sample, then it has been shown theoretically that the standard deviation is the best estimate (most efficient). The mean deviation is calculated by first calculating the mean of the data and then calculating the deviation (value - mean) for each value. If we then sum these deviations, we calculate the mean deviation which will always be zero. So this statistic has little value. The individual deviations may however be of interest. See related link. To obtain the means absolute deviation (MAD), we sum the absolute value of the individual deviations. We will obtain a value that is similar to the standard deviation, a measure of dispersal of the data values. The MAD may be transformed to a standard deviation, if the distribution is known. The MAD has been shown to be less efficient in estimating the standard deviation, but a more robust estimator (not as influenced by erroneous data) as the standard deviation. See related link. Most of the time we use the standard deviation to provide the best estimate of the variance of the population.
What is best measure of risk for an asset held in isolation and which is the best measure for an asset held in a diversified portfolio?
Standard deviation; correlation coefficient
What is the best measurement for comparing the standard of living between two countries?
The best measurement for comparing the standard of living between two countries is the GDP in conjunction with the economic growth. GDP stands for Gross Domestic product.
What are the best statistics to use for data that is normally distributed?
The mean and standard deviation. If the data really are normally distributed, all other statistics are redundant.
Choose the best definition of STP?
a term that indicates a combined measurement of standard atmospheric pressure and room temperature. A+
Weekly demand for Motorola cell phone at a best buy store is normally distributed with a mean of 300 and standard deviation of 200 Motorola takes to weeks to supply a best buy order best buy is target?
you should by a playboy
Is the line of best fit the same as linear regression?
Linear Regression is a method to generate a "Line of Best fit" yes you can use it, but it depends on the data as to accuracy, standard deviation, etc. there are other types of regression like polynomial regression.
What is the best measurement for a phonebook?
Best measurement for a phone book is cm or inches.
