Learning, Free job alert & More
Before we dig into understanding normal distribution, we should first take a look at what distribution is? What is distribution? Distribution is a function that describes how the values of a variable are spread throughout the dataset. It reveals the possibility or frequency of each possible value occurring. For example, Imagine measuring the heights of … Read more
What is Probability? Probability refers to the chance or likelihood of a particular event taking place. It’s a numerical measure between 0 and 1 that expresses how probable an event is. The closer a probability is to 1, the more certain the event. Conversely, a probability closer to 0 indicates a less likely event. What … Read more
What is Population variance? Population variance (σ²) is a crucial measure of how spread out the values are within a population. It reflects the average squared distance of each element in the population from the population mean (μ). A higher variance indicates a wider spread of data points, while a lower variance suggests the data … Read more
What are sample mean and population mean? Sample mean and Population mean are two key statistics used to measure the central tendency within a dataset. While they seem similar, they represent averages from different sources of data: Sample Mean (x̄) This represents the average value calculated from a subset (sample) of a larger population. It’s … Read more
What is the difference between percentage and percentile? Both percentage and percentile are used to express data points in relation to a whole, but they serve different purposes. Here’s a breakdown to understand the key differences: Percentage: Percentile: Example Here’s an analogy to illustrate the difference: Imagine a class of 100 students. In essence When … Read more
