Chapter 15 Economics - XII: Combined Standard Deviation and Coefficient of Variation
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Questions and Answers

What formula is used to calculate the combined standard deviation of two series?

  • CV12 = N₁(o₁ + d₁) + N₂(o₂ + d₂) / N₁ + N₂
  • 123 = N₁X₁ + N₂ X₂ + N₃ X₃ N₁ + N₂ + N₃
  • X123 = N₁X₁ + N₂ X₂ + N₃ X₃ / N₁ + N₂ + N₃
  • 12 = N₁X₁ + N₂ X₂ N₁ + N₂ (correct)

    • Which measure of dispersion is given by the formula CV12?

  • Mean Deviation
  • Range
  • Standard Deviation
  • Combined Standard Deviation (correct)

    • What does 'd1' represent in the formula for combined standard deviation of three series?

  • Mean of all elements in series 3
  • Sum of all elements in series 1
  • Difference between the mean of series 1 and series 2
  • Difference of each element from the combined mean (correct)

    • In the context of measures of dispersion, what would be a disadvantage of using the range as a measure?

    <p>It is sensitive to extreme values</p> Signup and view all the answers

    How does the coefficient of variation differ from standard deviation?

    <p>Coefficient of variation measures relative variation while standard deviation measures absolute variation</p> Signup and view all the answers

    What purpose does the Combined Coefficient of Variation (CV12) serve in statistics?

    <p>To compute the relative variation across combined series</p> Signup and view all the answers

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