What are Descriptive and Inferential Statistics

The word “Statistics” which comes from the Latin word status, meaning a political state. Originally, statistics meant information useful to the state such as information about the sizes of populations and armed forces. The word statistics refers to “numerical facts systematically arranged” in the first place. That’s why the word stati... read more

How to Measure Typical Value of a Probability Distribution

In statistics, we employ on different averages to measure representative or “typical” value of a set of data or distribution. In following, we will look at some of most commonly used averages. Arithmetic Mean The most familiar average is the arithmetic mean or simply the mean. A value obtained by divi... read more

What is Skewness of a Probability Distribution

A distribution in which values equidistant from the mean have equal frequencies is called symmetrical distribution. Any departure from symmetry is called skewness. A perfect symmetrical distribution is a distribution where 1) mean, median and mode coincide and 2) the two tails of the distribution are equal in length from the mean. ... read more

Understanding Meaning of Statistics and its Applications

In today’s article we are going to look at what people generally think about statistics as subject and what does it actually deal with. People view statistics in many different ways depending upon their background or experience. Most consider statistics a subject which deals with percentages, charts, graphs, averages an... read more

Visualizing Rate of Change with Semi-Logarithmic Graphs

Scales of an ordinary graph are often referred as natural scales or arithmetic scales. These graphs, plotted on ordinary or arithmetic graph paper, can only be used to compare absolute changes in values because intervals on arithmetic paper represent equal difference or amounts. Moreover, we are often interested in studying ... read more

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