for what value of c is the quantity sigma(Xi-c)^2 minimized?
[Hint: Take the derivative with respect to c , set equal to 0 and solve]
I don't know where to start...
for what value of c is the quantity sigma(Xi-c)^2 minimized?
[Hint: Take the derivative with respect to c , set equal to 0 and solve]
I don't know where to start...
why don't you use the hint.........
Take the derivative with respect to c , set equal to 0 and solve
$\displaystyle {d\over dc} \sum_{i=1}^n(X_i-c)^2=-2 \sum_{i=1}^n(X_i-c)=-2(n\bar X-nc)$
set this equal to zero, shows that $\displaystyle c=\bar X$
And it is a min, that's why you should obtain the second derivative.