learn maths with Eds
Inferential statistics deals with parameter estimation and hypothesis testing. Parameter estimation addresses such questions as 1) What is the average weight of the packages of grass seed distributed by XYZ Inc.? 2) Among all the units produced by a machine,Read More
To test a population mean, conduct the 5-step procedure previously discussed in this link: click here. To apply the third step, three test statistics are available. Firstly, if the population standard deviation is not known but the population is normallyRead More
If we roll a dice and count how many spots it shows, is it possible that the number of spots be even and less than 2 simultaneously? Of course not. If it is an even number, it is impossible thatRead More
TOTAL COST (TC) Total cost is all the cost of producing a certain amount of products, including fixed costs (FC) and variable costs (VC). TC = FC + VC FIXED COST (FC) Fixed cost is the costs a firm incursRead More
In the previous post Introduction to The Measures in Statistics we have been introduced to the concept of measures of location. One of such measures is the mean, or more specifically the arithmetic mean. In the present post we elaborateRead More
We often find the word statistic when we are studying statistics. Lay people are often mistaken about the uses of the words. So, what do statistics and statistic mean? The word “statistics” is derived from the word status (Latin) or statistRead More
While in the discussion about discrete random variables there is a term probability function or probability mass function, in the discussion about continuous random variables there is a term probability density function or briefly density function. Let’s look at aRead More
There are two types of measures in statistics, namely measures of location and measures of dispersion. Measures of location are representatives of a data set while measures of dispersion measure the extent to which the data vary. Arithmetic MeanRead More
Boxplots are constructed to present quantitative data. They are created based on the five statistics: the first quartile (Q1), the third quartile (Q3), the median, the minimum value, and the maximum value. Suppose that we have data on the weightsRead More
One-one Functions Let A and B be sets and f is a function from A to B. The function f is called a one-one function or an injective function if the following holds: f(a) = f(b) ⇒ a =Read More