SSC CGL Exam > SSC CGL Videos > SSC CGL Tier 2 - Study Material, Online Tests, Previous Year > Probable Error & Correlation coefficient - Business Mathematics & Statistics
Probable Error & Correlation coefficient - Business Mathematics & Statistics Video Lecture | SSC CGL Tier 2 - Study Material, Online Tests, Previous Year
|
1365 videos|1312 docs|1010 tests
|
FAQs on Probable Error & Correlation coefficient - Business Mathematics & Statistics Video Lecture - SSC CGL Tier 2 - Study Material, Online Tests, Previous Year
| 1. What is the probable error in business mathematics and statistics? |  |
Ans. The probable error in business mathematics and statistics is a measure of the precision or accuracy of an estimate. It is often used to determine the range within which the true value of a statistic is likely to fall. The probable error is typically expressed as a standard deviation or a percentage of the estimate.
| 2. How is the probable error calculated? | |
Ans. The probable error is calculated by taking the standard deviation of a set of data and dividing it by the square root of the sample size. This provides an estimate of the average deviation of the data from the mean. The resulting value can be used to determine the range within which the true value is likely to fall with a certain level of confidence.
| 3. What is the correlation coefficient in business mathematics and statistics? | |
Ans. The correlation coefficient in business mathematics and statistics is a measure of the strength and direction of the linear relationship between two variables. It ranges from -1 to +1, where -1 indicates a perfect negative correlation, +1 indicates a perfect positive correlation, and 0 indicates no correlation. The correlation coefficient can help determine the degree to which changes in one variable can be predicted by changes in the other variable.
| 4. How is the correlation coefficient calculated? | |
Ans. The correlation coefficient is calculated by dividing the covariance of two variables by the product of their standard deviations. The resulting value ranges from -1 to +1 and provides a measure of the strength and direction of the linear relationship between the variables. A positive value indicates a positive correlation, a negative value indicates a negative correlation, and zero indicates no correlation.
| 5. What does a correlation coefficient of 0.8 mean in business mathematics and statistics? | |
Ans. A correlation coefficient of 0.8 in business mathematics and statistics indicates a strong positive linear relationship between two variables. It suggests that changes in one variable are highly likely to be accompanied by proportional changes in the other variable. This high level of correlation indicates that the variables are closely related and can be used to predict each other's values with a relatively high degree of accuracy.
About this Video
|
4.95/5 Rating |
|
Dec 23, 2024 Last updated |
Video Description: Probable Error & Correlation coefficient - Business Mathematics & Statistics for SSC CGL 2024 is part of SSC CGL Tier 2 - Study Material, Online Tests, Previous Year preparation.
The notes and questions for Probable Error & Correlation coefficient - Business Mathematics & Statistics have been prepared according to the SSC CGL exam syllabus.
Information about Probable Error & Correlation coefficient - Business Mathematics & Statistics covers all important topics for SSC CGL 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Probable Error & Correlation coefficient - Business Mathematics & Statistics.
Introduction of Probable Error & Correlation coefficient - Business Mathematics & Statistics in English is available as part of our SSC CGL Tier 2 - Study Material, Online Tests, Previous Year for SSC CGL & Probable Error & Correlation coefficient - Business Mathematics & 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.
Description
Video Lecture & Questions for Probable Error & Correlation coefficient - Business Mathematics & Statistics Video Lecture | SSC CGL Tier 2 - Study Material, Online Tests, Previous Year - SSC CGL full syllabus preparation | Free video for SSC CGL exam to prepare for SSC CGL Tier 2 - Study Material, Online Tests, Previous Year.
Information about Probable Error & Correlation coefficient - Business Mathematics & Statistics
Here you can find the meaning of Probable Error & Correlation coefficient - Business Mathematics & Statistics defined & explained in the simplest way possible.
Besides explaining types of Probable Error & Correlation coefficient - Business Mathematics & Statistics theory, EduRev gives you an ample number of questions to practice Probable Error & Correlation coefficient - Business Mathematics & Statistics tests,
examples and also practice SSC CGL tests.
|
1365 videos|1312 docs|1010 tests
|
|
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
Extra Questions
,mock tests for examination
,Online Tests
,Previous Year
,Free
,Semester Notes
,Objective type Questions
,Previous Year
,Viva Questions
,Probable Error & Correlation coefficient - Business Mathematics & Statistics Video Lecture | SSC CGL Tier 2 - Study Material
,Online Tests
,Important questions
,MCQs
,Exam
,study material
,Probable Error & Correlation coefficient - Business Mathematics & Statistics Video Lecture | SSC CGL Tier 2 - Study Material
,shortcuts and tricks
,Summary
,Previous Year
,ppt
,Previous Year Questions with Solutions
,practice quizzes
,video lectures
,past year papers
,Probable Error & Correlation coefficient - Business Mathematics & Statistics Video Lecture | SSC CGL Tier 2 - Study Material
,Sample Paper
,Online Tests
;
Study Probable Error & Correlation coefficient - Business Mathematics & Statistics on the App
Students of SSC CGL can study Probable Error & Correlation coefficient - Business Mathematics & Statistics alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Probable Error & Correlation coefficient - Business Mathematics & 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 Probable Error & Correlation coefficient - Business Mathematics & Statistics is prepared as per the latest SSC CGL syllabus.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up
within 7 days!
within 7 days!
Takes less than 10 seconds to signup