variance - How far a set of random numbers are spead out from the mean

2 Asset Portfolio

Free 2 Asset Portfolio Calculator - Given a portfolio with 2 assets, this determines the expected return (mean), variance, and volatility (standard deviation) of the portfolio.

A chicken farm produces ideally 700,000 eggs per day. But this total can vary by as many as 60,000 e

A chicken farm produces ideally 700,000 eggs per day. But this total can vary by as many as 60,000 eggs. What is the maximum and minimum expected production at the farm?
[U]Calculate the maximum expected production:[/U]
Maximum expected production = Average + variance
Maximum expected production = 700,000 + 60,000
Maximum expected production = [B]760,000[/B]
[U]Calculate the minimum expected production:[/U]
Minimum expected production = Average - variance
Minimum expected production = 700,000 - 60,000
Minimum expected production = [B]640,000[/B]

An organic juice bottler ideally produces 215,000 bottle per day. But this total can vary by as much

An organic juice bottler ideally produces 215,000 bottle per day. But this total can vary by as much as 7,500 bottles. What is the maximum and minimum expected production at the bottling company?
Our production amount p is found by adding and subtracting our variance amount:
215,000 - 7,500 <= p <= 215,000 + 7,500
[B](min) 207,500 <= p <=222,500 (max)[/B]

Analysis of Variance (ANOVA)

Free Analysis of Variance (ANOVA) Calculator - Performs 1 way analysis of variance or 2 way analysis of variance on a set of data with critical value test and conclusion.

Basic Statistics

Free Basic Statistics Calculator - Given a number set, and an optional probability set, this calculates the following statistical items:

Expected Value

Mean = μ

Variance = σ^{2}

Standard Deviation = σ

Standard Error of the Mean

Skewness

Mid-Range

Average Deviation (Mean Absolute Deviation)

Median

Mode

Range

Pearsons Skewness Coefficients

Entropy

Upper Quartile (hinge) (75th Percentile)

Lower Quartile (hinge) (25th Percentile)

InnerQuartile Range

Inner Fences (Lower Inner Fence and Upper Inner Fence)

Outer Fences (Lower Outer Fence and Upper Outer Fence)

Suspect Outliers

Highly Suspect Outliers

Stem and Leaf Plot

Ranked Data Set

Central Tendency Items such as Harmonic Mean and Geometric Mean and Mid-Range

Root Mean Square

Weighted Average (Weighted Mean)

Frequency Distribution

Successive Ratio

Expected Value

Mean = μ

Variance = σ

Standard Deviation = σ

Standard Error of the Mean

Skewness

Mid-Range

Average Deviation (Mean Absolute Deviation)

Median

Mode

Range

Pearsons Skewness Coefficients

Entropy

Upper Quartile (hinge) (75th Percentile)

Lower Quartile (hinge) (25th Percentile)

InnerQuartile Range

Inner Fences (Lower Inner Fence and Upper Inner Fence)

Outer Fences (Lower Outer Fence and Upper Outer Fence)

Suspect Outliers

Highly Suspect Outliers

Stem and Leaf Plot

Ranked Data Set

Central Tendency Items such as Harmonic Mean and Geometric Mean and Mid-Range

Root Mean Square

Weighted Average (Weighted Mean)

Frequency Distribution

Successive Ratio

Binomial Distribution

Free Binomial Distribution Calculator - Calculates the probability of 3 separate events that follow a binomial distribution. It calculates the probability of exactly k successes, no more than k successes, and greater than k successes as well as the mean, variance, standard deviation, skewness and kurtosis.

Also calculates the normal approximation to the binomial distribution with and without the continuity correction factor

Calculates moment number t using the moment generating function

Also calculates the normal approximation to the binomial distribution with and without the continuity correction factor

Calculates moment number t using the moment generating function

Confidence Interval for Variance and Standard Deviation

Free Confidence Interval for Variance and Standard Deviation Calculator - Calculates a (95% - 99%) estimation of confidence interval for the standard deviation or variance using the χ^{2} method with (n - 1) degrees of freedom.

Covariance and Correlation coefficient (r) and Least Squares Method and Exponential Fit

Free Covariance and Correlation coefficient (r) and Least Squares Method and Exponential Fit Calculator - Given two distributions X and Y, this calculates the following:

* Covariance of X and Y denoted Cov(X,Y)

* The correlation coefficient r.

* Using the least squares method, this shows the least squares regression line (Linear Fit) and Confidence Intervals of α and Β (90% - 99%)

Exponential Fit

* Coefficient of Determination r squared r^{2}

* Spearmans rank correlation coefficient

* Wilcoxon Signed Rank test

* Covariance of X and Y denoted Cov(X,Y)

* The correlation coefficient r.

* Using the least squares method, this shows the least squares regression line (Linear Fit) and Confidence Intervals of α and Β (90% - 99%)

Exponential Fit

* Coefficient of Determination r squared r

* Spearmans rank correlation coefficient

* Wilcoxon Signed Rank test

Exponential Distribution

Free Exponential Distribution Calculator - Calculates the Probability Density Function (PDF) and Cumulative Density Function (CDF) of the exponential distribution as well as the mean, variance, standard deviation, and entropy.

Geometric Distribution

Free Geometric Distribution Calculator - Using a geometric distribution, it calculates the probability of exactly k successes, no more than k successes, and greater than k successes as well as the mean, variance, standard deviation, skewness, and kurtosis.

Calculates moment number t using the moment generating function

Calculates moment number t using the moment generating function

Negative Binomial Distribution

Free Negative Binomial Distribution Calculator - Calculates the probability of the k^{th} success on the x^{th} try for a negative binomial distribution also known as the Pascal distribution.? ? It calculates the probability of exactly k successes, no more than k successes, and greater than k successes as well as the mean, variance, and standard deviation.

Poisson Distribution

Free Poisson Distribution Calculator - Calculates the probability of 3 separate events that follow a poisson distribution.

It calculates the probability of exactly k successes P(x = k)

No more than k successes P (x <= k)

Greater than k successes P(x >= k)

Each scenario also calculates the mean, variance, standard deviation, skewness, and kurtosis.

Calculates moment number t using the moment generating function

It calculates the probability of exactly k successes P(x = k)

No more than k successes P (x <= k)

Greater than k successes P(x >= k)

Each scenario also calculates the mean, variance, standard deviation, skewness, and kurtosis.

Calculates moment number t using the moment generating function

Sales Price Variance

Free Sales Price Variance Calculator - Calculates the Sales Price Variance and Total Variance for a group of products

True or False (a) The normal distribution curve is always symmetric to its mean. (b) If the variance

True or False
(a) The normal distribution curve is always symmetric to its mean.
(b) If the variance from a data set is zero, then all the observations in this data set are identical.
(c) P(A AND A^{c})=1, where A^{c} is the complement of A.
(d) In a hypothesis testing, if the p-value is less than the significance level ?, we do not have sufficient evidence to reject the null hypothesis.
(e) The volume of milk in a jug of milk is 128 oz. The value 128 is from a discrete data set.
[B](a) True, it's a bell curve symmetric about the mean
(b) True, variance measures how far a set of numbers is spread out. A variance of zero indicates that all the values are identical
(c) True. P(A) is the probability of an event and P(Ac) is the complement of the event, or any event that is not A. So either A happens or it does not. It covers all possible events in a sample space.
(d) False, we have sufficient evidence to reject H0.
(e) False. Volume can be a decimal or fractional. There are multiple values between 127 and 128. So it's continuous.[/B]

True or False: The standard deviation of the chi-square distribution is twice the mean.

True or False: The standard deviation of the chi-square distribution is twice the mean.
[B]False[/B], the variance is twice the mean. Mean is k, Variance is 2k

Uniform Distribution

Free Uniform Distribution Calculator - This calculates the following items for a uniform distribution

* Probability Density Function (PDF) ƒ(x)

* Cumulative Distribution Function (CDF) F(x)

* Mean, Variance, and Standard Deviation

Calculates moment number t using the moment generating function

* Probability Density Function (PDF) ƒ(x)

* Cumulative Distribution Function (CDF) F(x)

* Mean, Variance, and Standard Deviation

Calculates moment number t using the moment generating function

Which of the following involves making pairwise comparisons? a. Comparing the standard deviation of

Which of the following involves making pairwise comparisons?
a. Comparing the standard deviation of GRE grades between two states
b. Comparing the variance of the amount of soda consumed by boys and girls in a high school
c. Comparing the mean weight between children in grades 2, 3, 4 and 5
d. Comparing the number of restaurants in New York and Boston
[B]c. Comparing the mean weight between children in grades 2, 3, 4 and 5[/B]
Pairwise comparison generally refers to any process of comparing entities in pairs to judge which of each entity is preferred, or has a greater amount of some quantitative property