Measures of central tendency

A bar graph is a graph with rectangular bars that are proportional to the values they indicate, and the heights of the bars are proportional to the values they represent. The bars of the graphs can easily be shown either vertically or horizontally.  Bar graphs, often known as bar charts, represent data that has been […]

In the realm of finance, the Arithmetic mean and Geometric mean are commonly employed to compute the returns on investment for investment portfolios. People claim larger returns using the arithmetic mean, which is not the correct way to calculate the return on investment. The Geometric Mean is the correct approach to compute the return on

The observations based upon any test or experiment can exhibit variations in value. The value for each experiment may not be identical. These values may be noted to be within a range of numbers. But, a range may not be useful for all the scenarios. A few observations work on the range, but not all. 

The observations based upon any test which happened, it can be any experiment for reading the changes in value, can be noted to vary between a range. The value for each experiment may not be identical. These values may be noted to be within a range of numbers. Thus, the range may not be useful

The variance formula in probability theory and statistics calculates how widely distributed a set of numbers is. It is a numerical value used to describe how far members of a group differ from one another. The variance is large if individual observations deviate significantly from the group mean, and vice versa. Variance is a crucial

The positive square root of the variance is the standard deviation. One of the fundamental techniques in statistical analysis is standard deviation. Standard deviation, also known as SD or indicated by the symbol ‘σ’ indicates how far a value deviates from the mean value. A low standard deviation indicates that the values are often within

A normal distribution is a proper term for a probability bell curve. In an ordinary distribution, the mean is zero and the standard deviation is 1. They are symmetrical, however, no longer all symmetrical distributions are normal. As we know that the data is distributed in different manners. But in most cases, the data is

The observations based upon any test which happened, it can be any experiment for reading the changes in value, can be noted to vary between a range. The value for each experiment may not be identical. These values may be noted to be within a range of numbers. Thus, the range may not be useful

The central limit theorem is a concept of statistics that states that the sum of a large number of self-standing random variables is nearly normal. If we simplify this, we can say that the theorem means that if we keep drawing larger and larger samples and then calculate their means, then the sample means will