Category: Statistics

Statistical analysis solves complicated problems that create a big impact across the fields.

Exponential Distribution and Applications

Exponential Distribution and Applications, In the realm of probability and statistics, the exponential distribution, also known as the negative exponential distribution, plays a significant role in describing the time between events in a Poisson...

Chi-Square Distribution and p value

Chi-Square Distribution and p value, Understanding Chi-Square Statistics and Shaded Regions in Tables In various statistical analyses, tables often display chi-square (χ²) statistics to represent the differences between observed and expected values. The shaded...

Black-Scholes Model: A Comprehensive Guide

Black-Scholes Model: A Comprehensive Guide to Option Pricing in Financial Markets, Black-Scholes Model, named after its developers Fischer Black, Robert Merton, and Myron Scholes, is a widely recognized and influential mathematical tool used to...

ANOVA in Statistical Analysis

ANOVA in Statistical Analysis, Analysis of Variance (ANOVA) is a statistical method used by researchers and analysts to evaluate the potential difference between a scale-level dependent variable and a nominal-level independent variable with two...

Adjusted R-Square in Statistics

Adjusted R-Square in Statistics, In the realm of statistical analysis, linear regression models play a pivotal role in understanding the relationship between dependent and independent variables. Two crucial metrics that help assess the performance...

Examples of Independent and Paired Samples

Examples of Independent and Paired Samples in the field of research, comparing groups is a common practice to understand the effectiveness of interventions, treatments, or programs. Independent and paired samples are two statistical comparison...

Role of Confounding Variables in Research

Role of Confounding Variables in Research, confounding variables pose a significant challenge to accurately determining the relationship between independent and dependent variables. These variables, which are not the main focus of the study, can...

When to use Kruskal Wallis Test

A nonparametric hypothesis test that compares three or more independent groups is the Kruskal-Wallis test. You probably already know about one-way ANOVA, which compares the means of at least three groups, if you analyze...

Exponential Smoothing Forecast in Time Series

Exponential Smoothing Forecast in Time Series, A forecasting technique for univariate time series data is exponential smoothing. With this strategy, forecasts are weighted averages of historical observations, with the weights of older observations decreasing...