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

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

12 = N₁X₁ + N₂ X₂ N₁ + N₂

Which measure of dispersion is given by the formula CV12?

Combined Standard Deviation

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

Difference of each element from the combined mean

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

It is sensitive to extreme values

How does the coefficient of variation differ from standard deviation?

Coefficient of variation measures relative variation while standard deviation measures absolute variation

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

To compute the relative variation across combined series

This quiz covers the concept of combined standard deviation and coefficient of variation for two and three series in statistics. It includes formulas for calculating combined standard deviation and coefficient of variation, along with the interpretation of results.

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