# Statistics as Applied in Business

Ronald Press Company, 1925 - Business - 639 pages

### Popular passages

Page 113 - Now the field worker collecting data for an index number must select from among all these different prices for each of his commodities the one or the few series of quotations that make the most representative sample of the whole. He must find the most reliable source of information, the most representative market, the most typical brands or grades, and the class of dealers who stand in the most influential position. He must have sufficient technical knowledge to be sure that his quotations are for...
Page 113 - COLLECTING AND PUBLISHING THE ORIGINAL QUOTATIONS. The reliability of an index number obviously depends upon the /, judgment and the accuracy with which the original price quotations were collected. This field work is not only fundamental, it is also laborious, expensive, and perplexing beyond any other part of the whole investigation. Only those who have tried to gather from the original sources quotations for many commodities over a long series of years appreciate the difficulties besetting the...
Page 6 - We shall use the term statistics as meaning aggregates of facts 'affected to a marked extent by a multiplicity of causes,' numerically stated, enumerated, or estimated according to reasonable standards of accuracy, collected in a systematic manner for a predetermined purpose, and placed in relation to each other.
Page 369 - The mode is the value of the variable corresponding to the maximum of the idwA frequency-curve which gives the closest possible fit to the actual distribution.
Page 481 - Standard deviation: the square root of the arithmetic mean of the squares of the deviations from the mean; also called root mean square error and sigma deviation.
Page 96 - Industrial accidents and hygiene; Conciliation and arbitration (including strikes and lockouts); Labor laws of the United States...
Page 505 - ... digits. The characteristic of the logarithm of any positive number greater than one is positive and is one less than the number of digits before the decimal point. The characteristic of the logarithm of any positive number less than one is negative and is one more than the number of ciphers immediately after the decimal point. A negative number or number less than zero has no real logarithm. EXAMPLES: Logio 25400.
Page 112 - ... prices. Notning is said as to the frequency of these checks. No indication is given as to the method (if any) utilized in checking trade associations. In the case of some commodities (agricultural products, fish, etc.) other government agencies are already officially collecting and publishing prices. 7 "The reliability of an index number obviously depends upon the judgment and accuracy with which the original price quotations were collected. This field work Is not only fundamental, It is also...
Page 113 - Of course varying grades command varying prices, and so as a rule do large lots and small lots ; for the same grade in the same quantities, different prices are paid by the manufacturer, jobber, and local buyer ; in different localities the prices paid by these various dealers are not the same ; even in the same locality different dealers of the same class do not all pay the same price to everyone from whom they buy the same grade in the same quantity on the same day. To find what really was the...
Page 505 - The characteristic of the logarithm of a number less than unity is negative, and one more than the number of ciphers immediately after the decimal point. Thus, the characteristics of the logarithms of 3406...