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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.
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.
Merits and demerits of quartile deviation?
Merits· It can be easily calculated and simply understood.· It does not involve much mathematical difficulties.· As it takes middle 50% terms hence it is a measure better than Range and percentile Range.· It is not affected by extreme terms as 25% of upper and 25% of lower terms are left out.· Quartile Deviation also provides a short cut method to calculate Standard Deviation using the formula 6 Q.D. = 5 M.D. = 4 S.D.· In case we are to deal with the centre half of a series this is the best measure to use.Demerits or Limitations· As Q1 and Q3 are both positional measures hence are not capable of further algebraic treatment.· Calculation are much more, but the result obtained is not of much importance.· It is too much affected by fluctuations of samples.· 50% terms play no role; first and last 25% items ignored may not give reliable result.· If the values are irregular, then result is affected badly.· We can't call it a measure of dispersion as it does not show the scatter-ness around any average.· The value of quartile may be same for two or more series or Q.D. is not affected by the distribution of terms between Q1 and Q3 or outside these positions.So going through the merits and demerits, we conclude that Quartile Deviation cannot be relied on blindly. In the case of distributions with high degree of variation, quartile deviation has less reliability.
Mutual funds performance is best measured by?
Mutual fund performance is best measured by:Growth in the total Assets under managementSteady Growth in the NAV of the fund houseMinimal fund management chargesComparison with the benchmark index and its peers
Which of the following best describes the data distribution of the histogram below?
I'm unable to see the histogram you're referring to. However, to describe a data distribution, you can look for characteristics such as its shape (normal, skewed, bimodal), center (mean or median), spread (range or standard deviation), and any outliers. If you provide details about the histogram, I can help you analyze it!
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.
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.
What does the sample standard deviation best estimate?
The standard deviation of the population. the standard deviation 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
Why standard deviation is the best measurement for dispersion?
Standard deviation is often considered the best measurement for dispersion because it quantifies the amount of variation or spread in a dataset relative to the mean. Unlike range or interquartile range, standard deviation takes into account all data points, allowing for a more comprehensive understanding of variability. It also has a direct mathematical relationship with other statistical measures, making it useful for further analysis, particularly in normally distributed data. Additionally, it is expressed in the same units as the data, facilitating easier interpretation.
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 the best measure of variability?
The best measure of variability depends on the specific characteristics of the data. Common measures include the range, standard deviation, and variance. The choice of measure should be made based on the distribution of the data and the research question being addressed.
What is the angle of minimum deviation in a diffraction experiment?
The angle of minimum deviation in a diffraction experiment is the angle at which the diffracted light rays are the most spread out, resulting in the best separation of the different colors. It is typically smaller than the angle of the first diffraction minimum to achieve maximum dispersion.
What is the best measure of a nation's standard of living?
GDP per capita
What is the best standard unit to measure a persons height?
feet and inches
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.
What is the best unit of measure to measure your bookshelf?
The best unit of measure to measure a bookshelf would be inches or centimeters, depending on the standard unit of measurement you prefer. These units provide a precise representation of the bookshelf's dimensions.
