Understanding Probability
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 …
Statistics
Understanding Population Variance
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 …
Central Tendency: Sample Mean and Population Mean
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 …
Difference between percentage and percentile
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 …
3 Measures of Central Tendency: Mean, Media, Mode
What is Central Tendency? In statistics, central tendency refers to a collection of summary measures that describe the typical or average value of a set of data. It helps us …