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Is mean used to describe the variance of data?
Yes.
What SPSS procedures can be used for data screening of categorical variables?
variance
How is variance used to measure risk?
In finance, risk of investments may be measured by calculating the variance and standard deviation of the distribution of returns on those investments. Variance measures how far in either direction the amount of the returns may deviate from the mean.
What are t test and F test In which situation these are applied?
Both are parametric test. The t-test uses a test statistic that is related to the sample mean(s) and is used to compare that with the mean of another sample or some population. The F-test uses a test statistic that is related to the sample variance and is used to compare that with the variance of another sample or some population. Both tests require identical independently distributed random variables. This ensures that the relevant test statistics are approximately normally distributed.
What is the variance used for?
Variance is used to add standard deviations when comparing two samples or populations. Variance is simply Std^2. The formula for obtaining Std is dependent on the type of sample taken\ hypothesis test performed i.e. 2-proportion pop/sample, single proportion, poussin, binomial, etc.
What Type of sampling is used for estimating population?
statistical.
In a study using 9 samples and in which the population variance is unknown the distribution that should be used to calculate confidence intervals is?
In a study using 9 samples, and in which the population variance is unknown, the distribution that should be used to calculate confidence intervals is
How much error between sample mean and population mean?
The answer depends on the underlying variance (standard deviation) in the population, the size of the sample and the procedure used to select the sample.
Will The finite population correction factor lead to a wider confidence interval?
No since it is used to reduce the variance of an estimate in the case that the population is finite and we use a simple random sample.
Variance in the rhythm of your heart?
It is the variance in time between each heartbeat. ECG, and blood pressure tests are often used to measure the variance in the rhythm of the heart.
Why is standard deviation better than variance?
Better for what? Standard deviation is used for some calculatoins, variance for others.
Is mean used to describe the variance of data?
Yes.
What use is variance analysis to businesses?
Variance analysis is something used primarily by small businesses. It is a method used by managers of small businesses to improve the performance of their companies.
Why is estimating better than rounding?
Estimating is neither better nor worse than rounding. The two are used for different purposes.
What variance is best for measuring operating performance?
Efficiency variance can be a good metric because it measures how efficiently inputs were used to produce output.
Standard costs are used to measure?
price and quantity variance
what is a reference point that is used for estimating fractions?
benchmark fractions
