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McKay's Approximation For The Coefficient Of Variation
In statistics, McKay's approximation of the coefficient of variation is a statistic based on a sample from a normally distributed population. It was introduced in 1932 by A. T. McKay. Statistical methods for the coefficient of variation often utilizes McKay's approximation. Let x_i , i = 1, 2,\ldots, n be n independent observations from a N(\mu, \sigma^2) normal distribution. The population coefficient of variation is c_v = \sigma / \mu . Let \bar and s \, denote the sample mean and the sample standard deviation In statistics, the standard deviation is a measure of the amount of variation or dispersion of a set of values. A low standard deviation indicates that the values tend to be close to the mean (also called the expected value) of the set, while ..., respectively. Then \hat_v = s/\bar is the sample coefficient of variation. McKay's approximation is : K = \left( 1 + \frac \right) \ \frac Note that in this expression, the first factor includes the population ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Statistics
Statistics (from German: '' Statistik'', "description of a state, a country") is the discipline that concerns the collection, organization, analysis, interpretation, and presentation of data. In applying statistics to a scientific, industrial, or social problem, it is conventional to begin with a statistical population or a statistical model to be studied. Populations can be diverse groups of people or objects such as "all people living in a country" or "every atom composing a crystal". Statistics deals with every aspect of data, including the planning of data collection in terms of the design of surveys and experiments.Dodge, Y. (2006) ''The Oxford Dictionary of Statistical Terms'', Oxford University Press. When census data cannot be collected, statisticians collect data by developing specific experiment designs and survey samples. Representative sampling assures that inferences and conclusions can reasonably extend from the sample to the population as a whole. An ex ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coefficient Of Variation
In probability theory and statistics, the coefficient of variation (CV), also known as relative standard deviation (RSD), is a standardized measure of dispersion of a probability distribution or frequency distribution. It is often expressed as a percentage, and is defined as the ratio of the standard deviation \sigma to the mean \mu (or its absolute value, The CV or RSD is widely used in analytical chemistry to express the precision and repeatability of an assay. It is also commonly used in fields such as engineering or physics when doing quality assurance studies and ANOVA gauge R&R, by economists and investors in economic models, and in neuroscience. Definition The coefficient of variation (CV) is defined as the ratio of the standard deviation \ \sigma to the mean \ \mu , c_ = \frac. It shows the extent of variability in relation to the mean of the population. The coefficient of variation should be computed only for data measured on scales that have a meaningfu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Normal Distribution
In statistics, a normal distribution or Gaussian distribution is a type of continuous probability distribution for a real-valued random variable. The general form of its probability density function is : f(x) = \frac e^ The parameter \mu is the mean or expectation of the distribution (and also its median and mode), while the parameter \sigma is its standard deviation. The variance of the distribution is \sigma^2. A random variable with a Gaussian distribution is said to be normally distributed, and is called a normal deviate. Normal distributions are important in statistics and are often used in the natural and social sciences to represent real-valued random variables whose distributions are not known. Their importance is partly due to the central limit theorem. It states that, under some conditions, the average of many samples (observations) of a random variable with finite mean and variance is itself a random variable—whose distribution converges to a normal dist ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sample Mean
The sample mean (or "empirical mean") and the sample covariance are statistics computed from a sample of data on one or more random variables. The sample mean is the average value (or mean value) of a sample of numbers taken from a larger population of numbers, where "population" indicates not number of people but the entirety of relevant data, whether collected or not. A sample of 40 companies' sales from the Fortune 500 might be used for convenience instead of looking at the population, all 500 companies' sales. The sample mean is used as an estimator for the population mean, the average value in the entire population, where the estimate is more likely to be close to the population mean if the sample is large and representative. The reliability of the sample mean is estimated using the standard error, which in turn is calculated using the variance of the sample. If the sample is random, the standard error falls with the size of the sample and the sample mean's distributio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sample Standard Deviation
In statistics, the standard deviation is a measure of the amount of variation or dispersion of a set of values. A low standard deviation indicates that the values tend to be close to the mean (also called the expected value) of the set, while a high standard deviation indicates that the values are spread out over a wider range. Standard deviation may be abbreviated SD, and is most commonly represented in mathematical texts and equations by the lower case Greek letter σ (sigma), for the population standard deviation, or the Latin letter '' s'', for the sample standard deviation. The standard deviation of a random variable, sample, statistical population, data set, or probability distribution is the square root of its variance. It is algebraically simpler, though in practice less robust, than the average absolute deviation. A useful property of the standard deviation is that, unlike the variance, it is expressed in the same unit as the data. The standard deviation of a popul ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chi-squared Distribution
In probability theory and statistics, the chi-squared distribution (also chi-square or \chi^2-distribution) with k degrees of freedom is the distribution of a sum of the squares of k independent standard normal random variables. The chi-squared distribution is a special case of the gamma distribution and is one of the most widely used probability distributions in inferential statistics, notably in hypothesis testing and in construction of confidence intervals. This distribution is sometimes called the central chi-squared distribution, a special case of the more general noncentral chi-squared distribution. The chi-squared distribution is used in the common chi-squared tests for goodness of fit of an observed distribution to a theoretical one, the independence of two criteria of classification of qualitative data, and in confidence interval estimation for a population standard deviation of a normal distribution from a sample standard deviation. Many other statistical tes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Noncentral Beta Distribution
In probability theory and statistics, the noncentral beta distribution is a continuous probability distribution that is a noncentral generalization of the (central) beta distribution. The noncentral beta distribution (Type I) is the distribution of the ratio : X = \frac, where \chi^2_m(\lambda) is a noncentral chi-squared random variable with degrees of freedom ''m'' and noncentrality parameter \lambda, and \chi^2_n is a central chi-squared random variable with degrees of freedom ''n'', independent of \chi^2_m(\lambda). In this case, X \sim \mbox\left(\frac,\frac,\lambda\right) A Type II noncentral beta distribution is the distribution of the ratio : Y = \frac, where the noncentral chi-squared variable is in the denominator only. If Y follows the type II distribution, then X = 1 - Y follows a type I distribution. Cumulative distribution function The Type I cumulative distribution function is usually represented as a Poisson mixture of central beta random variables ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
