Category «Statistics»

Distributions

Before moving to distribution just have a look into few definitions by wiki- Parameterized families of distributions are the normal distributions, the Poisson distributions, the binomial distributions, and the exponential family of distributions. The family of a normal distribution has two parameters, the mean and the variance: if those are specified, the distribution is known exactly. The family of chi-squared distributions has one parameter: the number …

Definitions

Empirical Rule According to empirical rule, for a normal distribution, almost all data will fall within three standard deviations of the mean. Thus, the empirical rule shows that 68% will fall within the first standard deviation, 95% within the first two standard deviations, and 99.7% will fall within the first three standard deviations of the distribution’s average. Central …

T-Test

TTest is a statical hypothesis test, it is used for quantitative analysis. It is of two types,When we perform a t-test, we usually trying to find evidence of a significant difference between population means (2-sample t) or between the population mean and a hypothesized value (1-sample t). Thus in other words, 1 Sample: It will …

AIC vs BIC

AIC stands for Akaike’s Information Criteria and BIC known for Bayesian Information Criteria. Akaike’s Information Criteria was formed in 1973 on the other hand Bayesian Information Criteria in 1978. When comparing the Bayesian Information Criteria and the Akaike’s Information Criteria, penalty for additional parameters is more in BIC than AIC. AIC(M)=2k−2logL^MAIC(M)=2k−2log⁡L^M and BIC(M)=klogn−2logL^MBIC(M)=klog⁡n−2log⁡L^M Note: where n is …

P Value

When you perform a hypothesis test in statistics, a p-value helps you determine the significance of your results. A small p-value (typically ≤ 0.05) indicates strong evidence against the null hypothesis, so you reject the null hypothesis. A large p-value (> 0.05) indicates weak evidence against the null hypothesis, so you fail to reject the …

Measurement of Central Tendency

Central Tendency: A measure of central tendency is a single value that attempts to describe a set of data by identifying the central position within that set of data. As such, measures of central tendency are sometimes called measures of central location. The mean, median and mode are all valid measures of central tendency mean() …