Understanding Poisson Distribution
What is Poisson distribution? The Poisson Distribution is a type of probability distribution that is used to model the number of events occurring in a fixed interval of time or …
Statistics
Binomial distribution
What is Binomial Distribution? The binomial distribution is a probability distribution that is used in situations where there are two possible outcomes in a series of events or in a …
Understanding Standard Deviation: A Measure of Spread
What is Standard Deviation? Standard deviation (SD) is a crucial statistic that measures how dispersed data points are within a dataset. It is expressed as σ (sigma) for populations and …
Sample Variance Demystified: Mastering Your Analysis with Essential Insights 101
What is Sample Variance? In statistics, sample variance (s²) plays a crucial role in understanding how spread out data points are within a sample. It reflects the average squared distance …
Understanding Normal Distribution and Random Variable
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 …