File:Statistical studies in the New York money-market; preceded by a brief analysis under the theory of money and credit, with statistical tables, diagrams and folding chart (1902) (14800588723).jpg

Identifier: statisticalstudi00nort (find matches)
Title: Statistical studies in the New York money-market; preceded by a brief analysis under the theory of money and credit, with statistical tables, diagrams and folding chart
Year: 1902 (1900s)
Authors: Norton, John Pease, 1877-
Subjects: New York Stock Exchange Credit Money
Publisher: New York, MacMillan
Contributing Library: Robarts - University of Toronto
Digitizing Sponsor: University of Toronto

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r use inbiology by Prof. Karl Pearson of London. It has not beenused to any extent in economics.* Consequently a briefexposition of the method may not be out of place. § 50. In constructing the coefficient of correlation, two quan-tities must be calculated for each set of statistics. Thesequantities are the mean and the standard deviation. The lasttwo quantities are very important constants for the frequencycurve of any array of statistics. Hence it is important toknow at the outset exactly what is meant by these severalterms. Concrete examples of frequency curves are the distribu-tion of the number of weeks from 1885 to 1900 accordingto the ratio of reserves to deposits, the distribution of bond-dollars according to the actual rate of interest realized at themarket price, or the distribution of the number of weeksfrom 1885 to 1900 according to the call discount rate. * A few exceptions to this statement may be noted, as Yule, on Pauperism(Roy. Stat. Soc, 1899, Vol. 62, pp. 249-286).
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—73—Table No. ai. Frequency of Bond-Dollars* to Actual Yields in Millions. Actual Bond Actual Bond Actual Bond Actual Bond Rate of Dollar 1 Rate of Dollar Rate of Dollar Rate of Dollar Interest. Frequency. Interest. Frequency. Interest. Frequency. Interest. Frequency, 2.85-3-04 13 4.05-4.24 1088 5.25-5.44 26 6.45-6.64 0 3.05-3.24 131 4.25-4.44 444 5.45-5.64 2 6.65-6.84 O 3.25-3.44 I S3 4.45-4.64 3ii 5-65-5.84 14 6.85-7.04 4 3.45-3.64 190 ; 4.65-4.S4 251 5.85-6.04 2 total 4204 3.84 540 ! 4.S5-5.04 96 6.05-6.24 O mean rate 4.0736 3.85-4.04 SSi 15-05-5.24 27 6.25-6.44 I S. D. O.5990 Thus in Diagram No. 14 (A) we lay off upon the horizontalaxis at equal intervals the numbers or ratios 20%, 21$, 22$,.... 45$, which are the ratios of reserves to deposits.At each ratio of reserves to deposits, perpendiculars areerected proportionate to the number of weeks with thatparticular ratio during the years 1885 to 1900. The outlinejoining the tops of these perpendiculars is the so-calledfrequency

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