SSC CGL Exam > SSC CGL Notes > SSC CGL Tier 2 - Study Material, Online Tests, Previous Year > Link Relatives Method, Business Mathematics and Statistics
Link Relatives Method, Business Mathematics and Statistics | SSC CGL Tier 2 - Study Material, Online Tests, Previous Year PDF Download
Link Relatives Method
Among all the methods of measuring seasonal variation, link relatives method is the most difficult one. When this method is adopted the following steps are taken to calculate the seasonal variation indices :
(i) Calculate the link relatives of the seasonal figures. Link relatives are calculated by dividing the figure of each season* by the figure of immediately preceding season and multiplying it by 100.
These percentages are called link relatives since they link each month (or quarter or other time period) to the preceding one.
(ii) Calculating the average of the link relatives for each season. While calculating average we might take arithmetic average but median is probably better. The arithmetic average would give undue weight to extreme cases which were not primarily due to seasonal influences.
(iii) Convert these averages into chain relatives on the base of the first season.
(iv) Calculate the chain relatives of the first season on the basis of the last season. There will be some difference between the chain relative of the first season and the chain relative calculated by the previous method. This difference will be due to long-term changes. It is therefore necessary to correct these chain relatives.
Question for Link Relatives Method, Business Mathematics and StatisticsTry yourself: What is the purpose of calculating link relatives in the link relatives method of measuring seasonal variation?View Solution
(v) For correction, the chain relative of the first season calculated by first method is deducted from the chain relative (of the first season) calculated by the second method. The difference is divided by the number of seasons. The resulting figure multiplied by 1,2,3 (and so on) is deducted respectively from the chain relatives of the 2nd, 3rd, 4th (and so on) seasons. These are correct chain relatives.
(vi) Express the corrected chain relatives as percentage of their averages. These provide the required seasonal indices by the method of link relatives. The following example will illustrate the process.
The correction factor is calculated as follows :
Chain relative of the first quarter (on the basis of first quarter) = 100
Chain relative of the first quarter (on the basis of first quarter) =
Difference between these chain relatives = 106.7 – 100 = 6.7
Difference per quarter =
Adjusted chain relatives are obtained by subtracting 1 × 1.675, 2 × 1.675, 3 × 1.675 from the chain relatives of 2nd , 3rd and 4th quarters, respectively.
The document Link Relatives Method, Business Mathematics and Statistics | SSC CGL Tier 2 - Study Material, Online Tests, Previous Year is a part of the SSC CGL Course SSC CGL Tier 2 - Study Material, Online Tests, Previous Year.
All you need of SSC CGL at this link: SSC CGL
|
1365 videos|1312 docs|1010 tests
|
FAQs on Link Relatives Method, Business Mathematics and Statistics - SSC CGL Tier 2 - Study Material, Online Tests, Previous Year
| 1. What is the Link Relatives Method in Business Mathematics and Statistics? |  |
Ans. The Link Relatives Method is a statistical technique that is used to analyze the relationship between two variables. It is commonly used in business mathematics to find the correlation between two sets of data. The method involves calculating the percentage change in one variable in relation to the percentage change in another variable.
| 2. How is the Link Relatives Method useful in Business Mathematics and Statistics? | |
Ans. The Link Relatives Method is useful in Business Mathematics and Statistics as it helps to identify the strength and direction of the relationship between two variables. This method can be used to forecast future trends based on historical data and to identify the impact of changes in one variable on another variable. It is also used to identify outliers and to check the validity of assumptions made about the data.
| 3. What are the steps involved in using the Link Relatives Method? | |
Ans. The steps involved in using the Link Relatives Method are as follows:
1. Determine the two variables that you want to analyze.
2. Collect data for both variables.
3. Calculate the percentage change in each variable.
4. Divide the percentage change in one variable by the percentage change in the other variable.
5. Multiply the result by 100 to get the relative change as a percentage.
6. Analyze the result to determine the strength and direction of the relationship between the two variables.
| 4. Can the Link Relatives Method be used for more than two variables? | |
Ans. No, the Link Relatives Method is designed to analyze the relationship between two variables only. If you want to analyze the relationship between more than two variables, you will need to use a different statistical method such as multiple regression.
| 5. What are some common applications of the Link Relatives Method in Business Mathematics and Statistics? | |
Ans. The Link Relatives Method is commonly used in business mathematics and statistics for a variety of applications, including:
1. Forecasting future trends based on historical data.
2. Identifying the impact of changes in one variable on another variable.
3. Analyzing the strength and direction of the relationship between two variables.
4. Checking the validity of assumptions made about the data.
5. Identifying outliers in the data.
About this Document
|
10.3K Views |
|
4.84/5 Rating |
|
Nov 22, 2024 Last updated |
Document Description: Link Relatives Method, Business Mathematics and Statistics for SSC CGL 2024 is part of SSC CGL Tier 2 - Study Material, Online Tests, Previous Year preparation.
The notes and questions for Link Relatives Method, Business Mathematics and Statistics have been prepared according to the SSC CGL exam syllabus. Information about Link Relatives Method, Business Mathematics and Statistics covers topics
like and Link Relatives Method, Business Mathematics and Statistics Example, for SSC CGL 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises and tests below for Link Relatives Method, Business Mathematics and Statistics.
Introduction of Link Relatives Method, Business Mathematics and Statistics in English is available as part of our SSC CGL Tier 2 - Study Material, Online Tests, Previous Year
for SSC CGL & Link Relatives Method, Business Mathematics and Statistics in Hindi for SSC CGL Tier 2 - Study Material, Online Tests, Previous Year course.
Download more important topics related with notes, lectures and mock test series for SSC CGL
Exam by signing up for free. SSC CGL: Link Relatives Method, Business Mathematics and Statistics | SSC CGL Tier 2 - Study Material, Online Tests, Previous Year
Description
Full syllabus notes, lecture & questions for Link Relatives Method, Business Mathematics and Statistics | SSC CGL Tier 2 - Study Material, Online Tests, Previous Year - SSC CGL | Plus excerises question with solution to help you revise complete syllabus for SSC CGL Tier 2 - Study Material, Online Tests, Previous Year | Best notes, free PDF download
Information about Link Relatives Method, Business Mathematics and Statistics
In this doc you can find the meaning of Link Relatives Method, Business Mathematics and Statistics defined & explained in the simplest way possible. Besides explaining types of
Link Relatives Method, Business Mathematics and Statistics theory, EduRev gives you an ample number of questions to practice Link Relatives Method, Business Mathematics and Statistics tests, examples and also practice SSC CGL
tests
|
1365 videos|1312 docs|1010 tests
|
Download as PDF
|
Explore Courses for SSC CGL exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
practice quizzes
,Link Relatives Method
,Objective type Questions
,Extra Questions
,Online Tests
,mock tests for examination
,Important questions
,shortcuts and tricks
,Link Relatives Method
,Semester Notes
,Business Mathematics and Statistics | SSC CGL Tier 2 - Study Material
,Business Mathematics and Statistics | SSC CGL Tier 2 - Study Material
,past year papers
,ppt
,Online Tests
,Online Tests
,study material
,video lectures
,Exam
,Viva Questions
,Previous Year Questions with Solutions
,Link Relatives Method
,Sample Paper
,Free
,Previous Year
,Previous Year
,Business Mathematics and Statistics | SSC CGL Tier 2 - Study Material
,Previous Year
,Summary
,MCQs
;
Additional Information about Link Relatives Method, Business Mathematics and Statistics for SSC CGL Preparation
Link Relatives Method, Business Mathematics and Statistics Free PDF Download
The Link Relatives Method, Business Mathematics and Statistics is an invaluable resource that delves deep into the core of the SSC CGL exam.
These study notes are curated by experts and cover all the essential topics and concepts, making your preparation more efficient and effective.
With the help of these notes, you can grasp complex subjects quickly, revise important points easily,
and reinforce your understanding of key concepts. The study notes are presented in a concise and easy-to-understand manner,
allowing you to optimize your learning process. Whether you're looking for best-recommended books, sample papers, study material,
or toppers' notes, this PDF has got you covered. Download the Link Relatives Method, Business Mathematics and Statistics now and kickstart your journey towards success in the SSC CGL exam.
Importance of Link Relatives Method, Business Mathematics and Statistics
The importance of Link Relatives Method, Business Mathematics and Statistics cannot be overstated, especially for SSC CGL aspirants.
This document holds the key to success in the SSC CGL exam.
It offers a detailed understanding of the concept, providing invaluable insights into the topic.
By knowing the concepts well in advance, students can plan their preparation effectively.
Utilize this indispensable guide for a well-rounded preparation and achieve your desired results.
Link Relatives Method, Business Mathematics and Statistics Notes
Link Relatives Method, Business Mathematics and Statistics Notes offer in-depth insights into the specific topic to help you master it with ease.
This comprehensive document covers all aspects related to Link Relatives Method, Business Mathematics and Statistics.
It includes detailed information about the exam syllabus, recommended books, and study materials for a well-rounded preparation.
Practice papers and question papers enable you to assess your progress effectively.
Additionally, the paper analysis provides valuable tips for tackling the exam strategically.
Access to Toppers' notes gives you an edge in understanding complex concepts.
Whether you're a beginner or aiming for advanced proficiency, Link Relatives Method, Business Mathematics and Statistics Notes on EduRev are your ultimate resource for success.
Link Relatives Method, Business Mathematics and Statistics SSC CGL Questions
The "Link Relatives Method, Business Mathematics and Statistics SSC CGL Questions" guide is a valuable resource for all aspiring students preparing for the
SSC CGL exam. It focuses on providing a wide range of practice questions to help students gauge
their understanding of the exam topics. These questions cover the entire syllabus, ensuring comprehensive preparation.
The guide includes previous years' question papers for students to familiarize themselves with the exam's format and difficulty level.
Additionally, it offers subject-specific question banks, allowing students to focus on weak areas and improve their performance.
Study Link Relatives Method, Business Mathematics and Statistics on the App
Students of SSC CGL can study Link Relatives Method, Business Mathematics and Statistics alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Link Relatives Method, Business Mathematics and Statistics,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Link Relatives Method, Business Mathematics and Statistics is prepared as per the latest SSC CGL syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup