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What is Hypothesis Testing

What do you understand by term Hypothesis?  Hypothesis is a proposition made as a basis for reasoning, without any assumption of its truth. There are many problems in which, rather than estimating the value of a parameter, we need to decide whether to accept or reject a statement about the parameter. This statement is called…

Probability Theory

Probability Probability is the branch of mathematics concerning numerical descriptions of how likely an event is to occur. The probability of an event is a number between 0 and 1, where, roughly speaking, 0 indicates impossibility of the event and 1 indicates certainty. Most probable event occurs most frequently than events with low probability. If the…

Measure of Dispersion and Skewness

What is Dispersion? We tend to study dispersion to own an inspiration regarding the homogeneity or heterogeneousness of the distribution. Normally the means of dispersion is ‘scatteredness’. Dispersion is the state of obtaining, distributing or unfolding. In statistics dispersion describes the dimensions of the distribution and may be measured victimization in varied applied math ways…

Measures of Central Tendency

Measures of Central Tendency: According to Professor Bowley, averages are “statistical constants which enable us to comprehend in a single effort the significance of the whole.” They give us an idea about the concentration of the values in the central part of the distribution. Plainly speaking, an average of a statistical series is the value…

Statistical terms and concepts

Basic terminologies in Statistics: Variable: A variable is a feature of interest related to a specific object or person in a given population, or variable can also be defined as any characteristics, number, or quantity that can be measured or counted. A variable may also be called a data item. Population: Population is the set…

Significance of Statistics in Data Science

History of statistics The word statistics seems to have derived from the Latin word status, Italian word statista, or german word Statistik each of which means a political state. Prof. Prasanta Chandra Mahalanobis is known as the father of Indian Statistics. In ancient times, the government used to collect information regarding the population and property or…