Statistical Aid: A School of Statistics
Learn Statistics and Data Analysis Intuitively!
Statistical Aid
Data levels in statistics indicates the measurement levels in statistics. In statistics, the statistical data whether qualitative or quantitative, are generated or obtain through some measurement or some observational process. Measurement is essentially the task of assigning numbers to observations according to certain rules. The way in which the numbers are assigned to observations determines … Read more
Business forecasting is the process of making prediction of the future based on past and present data. In many cases a reliable forecast can be worth a lot of money, such as consistently and correctly guessing the behavior of the stock market for enough in advance to act upon such a guess. Business forecasting In … Read more
Inference comes from a word ‘infer’ which means that to draw a conclusion about a phenomenon on the basis of some information at hand. To make inference about a phenomenon through some statistical procedure is called statistical inference. According to wikipedia, “Inferences are steps in reasoning, moving from premises to logical consequences”. Types of statistical inference Statistical inference may be … Read more
Time series analysis is a crucial technique in data science, finance, and various other industries. It involves analyzing data points collected or recorded at specific time intervals to identify patterns, trends, and seasonal variations. More precisely, Time series analysis is an important forecasting procedure to find the trend of time series data. It is an … Read more
The relationship between two or more random variables are generally defined as the correlation. It is the major part of bivariate analysis. When variables are found to be related, we often want to know how close the relationship is. The study of the relationship is known as correlation analysis. The primary objective of correlation is … Read more
Skewness and kurtosis are two important measures in statistics. Kurtosis refers peakedness of a distribution and Skewness refers lack of symmetry. Skewness Literally, skewness means the ‘lack of symmetry’. We study skewness to have an idea about the shape of the curve which we can draw with the help of the given data. A distribution is … Read more
Quadrat sampling is a classic tool for the study of ecology, especially biodiversity. This method allows researchers to directly count organisms in a specific proportion (sample) of the habitat. It is used to estimate population abundance (number), density, frequency and distributions. The quadrat method has been widely used in plant studies. A quadrat is a four-sided … Read more
The Wilcoxon signed rank test determine whether the median of the sample is equal to some specified value. It utilizes both the sign of the difference as well as the magnitude of the differences, hence it provides more information than the sign test, it is often more powerful non-parametric test. The Wilcoxon Signed-Rank Test is a … Read more
In many situation, we are interested to whether the data collected for statistical analysis is random or not. In most all statistical inference we assume that the data is in a random sample. If the randomness of a sample is suspected, we test it’s randomness before, going to statistical analysis. In detail, There are many … Read more
The sign test is the oldest of all non-parametric tests. and it is so called as usually covert the data for analysis to a series of plus and minus sign. The test statistic consists of either the number of plus sign or the number of minus sign. According to wikipedia, “The sign test is a statistical … Read more
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