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Sample of a well maintained data [clarification needed]. In statistics and research design, an index is a composite statistic – a measure of changes in a representative group of individual data points, or in other words, a compound measure that aggregates multiple indicators.
Though there are many approximate solutions (such as Welch's t-test), the problem continues to attract attention [4] as one of the classic problems in statistics. Multiple comparisons: There are various ways to adjust p-values to compensate for the simultaneous or sequential testing of hypotheses. Of particular interest is how to simultaneously ...
[5] [6] The base usually equals 100 and the index number is usually expressed as 100 times the ratio to the base value. For example, if a commodity costs twice as much in 1970 as it did in 1960, its index number would be 200 relative to 1960. Index numbers are used especially to compare business activity, the cost of living, and employment ...
Since the sample does not include all members of the population, statistics of the sample (often known as estimators), such as means and quartiles, generally differ from the statistics of the entire population (known as parameters).
The five-number summary gives information about the location (from the median), spread (from the quartiles) and range (from the sample minimum and maximum) of the observations. Since it reports order statistics (rather than, say, the mean) the five-number summary is appropriate for ordinal measurements, as well as interval and ratio measurements.
A price index (plural: "price indices" or "price indexes") is a normalized average (typically a weighted average) of price relatives for a given class of goods or services in a given region, during a given interval of time.
The level of measurement – known as the scale, index, or typology – will determine what can be concluded from the data. A yes/no question will only reveal how many of the sample group answered yes or no, lacking the resolution to determine an average response. The nature of the expected responses should be defined and retained for ...
Composite measure in statistics and research design refer to composite measures of variables, i.e. measurements based on multiple data items. [1] An example of a composite measure is an IQ test, which gives a single score based on a series of responses to various questions. Three common composite measures include: