Median Test step by step procedure with mathematical example

The median test is one of the simplest and most widely used procedure for testing the Ho that the independent sample have been drawn from the population with equal median value. This process is a non-parametric testing procedure. Assumptions of Median Test There are some assumptions, The date consist of two independent random samples x1,x2,…,xn and […]

Non-Parametric Tests in Statistics

In statistics, Non parametric tests test which does not make any assumption as to the form of distribution in the population from which the sample is drawn i.e to say that the functional form of the distributions is not known. The test is called non parametric tests or distribution free test. Assumptions of Non parametric test […]

Random Variable and its types with properties

In statistics, A Random Variable is a set of possible values from a random experiment which is known in advance and the experiment can be repeated underer identical condition. According to Investopedia, “A random variable is a variable whose value is unknown or a function that assigns values to each of an experiment’s outcomes.”   […]

Measures of Dispersion in Statistics and its types

Measures of dispersion is statistical measure by which we determine how the observations spread out or scattered on each side of center. Variance and standard deviation is the most popular measures of dispersion. Definition of Dispersion Dispersion is a statistical measure that indicates how the observations are spread out or scattered on each side of […]

Statistical Hypothesis Testing step by step procedure

Statistical hypothesis testing is a procedure of a test on the basis of observed data modelled as the realised values taken by a collection. According to Investopedia, “Hypothesis testing is an act in statistics whereby an analyst tests an assumption regarding a population parameter.”   What is hypothesis testing? In statistics, we may divide statistical […]

An Intuitive Study of Experimental Design

Experimental design is the formulation of a set of rules and principles according to which an experiment is to be conducted to collect appropriate data whose analysis will lead to valid inferences for the problem under investigation. More precisely, experimental design is a way to carefully plan experiments in advance to get valid and objective […]

Probability Distributions in Statistics

In statistics, probability distributions are very important measure which related to the random variable and statistical data. Every data patern follows a probability distribution. Continuous data follow the continuous distribution and discrete data follow the discrete distributions. According to wikipedia, “In probability theory and statistics, a probability distribution is the mathematical function that gives the […]

Variance and Standard Deviation in Statistics

Variance is one of the best measure of dispersion which measure the difference of all observation from the center value of the observations.       Population variance and standard deviation The average of the square of the deviations taken from mean is called variance. The population variance is generally denoted by σ2and its estimate […]

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,     […]