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Q: What is the meaning of Many are called but few are chosen?
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Continue Learning about Statistics

How is data collected in statistics?

data can be collected many different ways, but a survey can be cunducted in a few different ways some of them are: simple random, stratified, block samples stratified simple random


Why is it important to carry out a large number of trials in determining probability?

If you only carry out a few trials, then how can you know how many times a particular situation will occur? One has to do a lot of trials in order to determine how many times that situation will happen so he can conclude the probability he's looking for.


Would a histogram help you interpret data?

In many cases, histograms help interpretations. But you can probably think of cases where this is not true. Perhaps you have too few values. Perhaps your data has many flaws or errors in it. Sometimes, people will select the data that they want think supports their idea, and make histograms using only this data. See related link on histogram.


Difference between data warehouse and OLTP?

A data warehouse differs from OLTP in that the former handles many large and complex queries regarding various rows of a table while the latter retrieves data from single rows. At the same time, a data warehouse is not real time and supports few users at a time compared to OLTP that can support many concurrent users.


What Mutual fund that averaged percent 12 for the past five years?

PRLAXT. Rowe Price: T ROWE PRICE LATIN AMERICAHas averaged 19.1% over the last 5 years. There are many that have accomplished this feat. This is just one of the few I personally invest in.