Statistics

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a ) Coefficient of variation for Standard deviation is nothing but a measure of risk (or uncertainty in return ) while Mean return is of course is a measure of return Therefore , dividing standard deviation with the mean return (which is nothing but coefficient of variation ) gives a parameter which is nothing but return normalized risk or risk per unit of return

A percentile score of 72 means 72 of those who took the test scored less than that scored by Timothy while a percentile score of 70 means only 70 of those who took the test scored less than Clayton Therefore , it is obvious as Timothy performed better than Clayton with respect to rest of the students in the class

Smaller coefficient of variation is better because this is a measure of risk per unit of return or a measure of how much risk someone is taking to get the same return

As percentile score of Timothy (72 ) is higher than that of Clayton (70 , therefore , Timothy performed better than Clayton with respect to rest of the students in the class

It can be also looked upon as return normalized risk and there is no need to say that for a given return smaller the risk better it is Q6

1 : Mode Observation with maximum frequency 7 Mode Observation with maximum frequency 25 b ) The mean , median and mode values are very close to each other

When comparing performance of Timothy and Clayton with respect to the rest of the students in the class absolute score is not important what is important is the percentile score

This is a characteristic of a good sample or characteristic of a sample wherein the measures of central tendency like mean , median , mode etc present a reasonably accurate picture of the population

How this can happen as Clayton has scored more than Timothy

02] As 75 of the annual average return values will lie in this range therefore , smaller the range better it is or there is more certainty about the expected return

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