Explain how to compute the mean and variance of a sample and a population. How would you explain the formulas in simple English?
1. Explain how to compute the mean and variance of a sample and a population. How would you explain the formulas in simple English? 2. How can one estimate the mean and variance of data that are summarized in a grouped frequency distribution? Why are these only estimates? 3. Explain why the sign of the covariance measure indicates the direction of the relationship between the variables of interest.
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