Geometric Mean definiton, formula and applications

The Geometric mean is a special types of average where we calculate the root of the product of a value of a set of observations. It is usually used to define various types of growth rates such as population growth, interest rates etc.    Formula of geometric mean By definition, the formula is as below,     … Read more

Harmonic Mean definition, formula and applications

The harmonic mean is the inverse of the arithmetic mean of the reciprocals of the observations of a set. It is a type of average generally used for numbers that represent a rate or ratio such as the precision and the recall in information retrieval and can be described as the reciprocal of the arithmetic mean … Read more

Measure of Central Tendency definition, types with advantages and disadvantages

central tendency

Measures of central tendency are numerical indices of statistical data that are generally indicative of the center, middle or representative of a data set. Definitions It is a single value within the range of data which represents a group of individual values simply and concisely so that the mind can get a quick understanding of the general size of … Read more

Statistical Data definition, types and requirements

statistical data

Definition of statistical data Statistical data are the outcomes or the observations which occur in scientific experiments or an investigation. To conduct any analysis it is must to have some data. Without data we can not think about research or statistical analysis. In statistics, data plays a vital role in all the fields and all … Read more

Regression analysis with its types, objectives and applications

regression analysis

Regression analysis is a statistical technique that develops a relationship between explanatory (independent) variables and response (dependent) variables. It measures the dependence of one (dependent) variable on one or more than one other (independent) variable.  Linear regression Introduction of regression analysis The term regression was first introduced in nineteenth century to describe a biological phenomena, … Read more

Intra-class vs Inter-class correlation in statistics

Inter-class vs Intra-class correlation

Inter-class correlation and intra-class correlation are two special cases of correlation analysis. Inter-class correlation shows the association among the groups and intra-class correlation shows the association within a group.   Intra class(a) vs Inter class(b) “Interclass” means among the groups.“Intraclass” means within groups. Inter-class correlation Inter-class correlation refers to the degree of association or agreement … Read more

Population vs Sample: Key Differences and Insights

population vs sample

In statistics, knowing the difference between population and sample is key. It helps in doing accurate and reliable research. Understanding this difference is vital for making good decisions and drawing conclusions. Statistics show that population and sample are closely related but different. The population is the whole group a researcher wants to study. On the … Read more

Statistics Definition, Scope with Real life Examples

what is statistics

What is Statistics? Statistics is the branch of mathematics that focuses on collecting, analyzing, interpreting, presenting, and organizing data. It provides tools and methods to make sense of large amounts of information and draw meaningful conclusions. Whether in academia, business, healthcare, or everyday decision-making, statistics is essential for understanding patterns, relationships, and trends in data. … Read more

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