Professional Documents
Culture Documents
Statistics
Statistics
Statistics
Answer: Statistics is both science and art. Statistical methods are systematic
and have a general application which makes it a science. Further, the
successful application of these methods requires skills and experience of
using the statistical tools. These aspects make it an art.
2. Define Quartiles.
Answer: A quartile is a statistical term that describes a division of
observations into four defined intervals based on the values of the data and
how they compare to the entire set of observations. Quartiles are organized
into lower quartiles, median quartiles, and upper quartiles.
4. Define Regression.
Answer: Regression is a very popular statistical method used in statistical
analysis. It is used to model and find the relationship between a variable
unknown to us and a variable whose values are known to us. The
unknown variable, which depends on the other variables, is called a
dependent variable (target), and the variables whose values are known
are called independent variables (predictor).
Regression is a supervised learning method that allows us to understand
the relationship between variables and make predictions about a
continuous output based on one or more predictor variables. It is
commonly used for forecasting, time series modelling, and determining
cause-and-effect relationships between variables. By supervised learning
method, we mean that the actual value of the target variable is known to
us for a given set of predictor values. Regression also helps us
understand the change in the unknown variable when the known
variable's value changes.
Average: The term “Average” describes a value that should represent the
sample. An average is defined as the sum of all the values divided by the
total number of values in a given set. It is also known as the arithmetic
mean. Let us consider simple data to find the average. Given, the set of
values are 1, 2, 3, 4, 5.
P(E) = n(E)/n(S)
Here,
3 Marks Question
1. What are the merits of arithmetic mean?
Answer: Merits of Arithmetic Mean:
(i) It is rigidly defined, simple, easy to understand and easy to
calculate.
(ii) It is based upon all the observations.
(iii) Its value being unique, we can use it to compare different sets of
data.
(iv) It is least affected by sampling fluctuations.