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Continue Learning about Statistics

What is a statistical data?

Statistical data is a list, lists, or charts of facts that are laid out side by side for comparisons sake. Statistical data is all about the numbers and percentages of any given thing. How often? What kind? How popular? Where at? How many? etc.


What is positional average?

Median is a positional average that gives the value located in the centre of the given statistical distribution.


What is the relationship between conditional probability and the concept of statistical independence?

If events A and B are statistically indepnedent, then the conditional probability of A, given that B has occurred is the same as the unconditional probability of A. In symbolic terms, Prob(A|B) = Prob(A).


The most commonly used greek letters in statistics?

I'll give you some common Greek symbols used in statistical analyses. I can't tell you which is the most common one given the enormous task of reviewing every statistics book. The Greek mu for mean, sigma for variance and rho for correlation are probably the first ones that one encounters in statistical analyses. Also, beta for beta distribution, gamma for gamma distribution, chi for chi-squared distribution. Alpha and beta are common as distribution parameters. In derivations, delta is common for differences of variables. Tau is common for a time variable. You will find more information in the related link.


How can you find a least square trend in a equation?

When given a set of data where the independent variable is time, it is possible to use statistical techniques to find a line (or curve) of best fit. One of the ways to do this is to minimise the square of the the differences between the actual values which are observed and the values that are predicted by such a curve (fitted values). The slope of this line or of the tangent to the curve at any point, is the least squares trend.A statistical explanation of the theory or the calculations required are too much for the pathetic browser that we are required to use.

Related Questions

What is the English term given to 7 babies born simultaneously?

Septuplets.


How To Determine Sample Size?

I've included a couple of links. Statistical theory can never tell you how many samples you must take, all it can tell you the expected error that your sample should have given the variability of the data. Worked in reverse, you provide an expected error and the variability of the data, and statistical theory can tell you the corresponding sample size. The calculation methodology is given on the related links.


What name is given to a statistical graph that is embellished with additional art work?

Contour map


What is a statistical data?

Statistical data is a list, lists, or charts of facts that are laid out side by side for comparisons sake. Statistical data is all about the numbers and percentages of any given thing. How often? What kind? How popular? Where at? How many? etc.


What is the importance of probability and statistics?

The importance of probability and statistics can be found in many business aspects. For example, a loan officer at a bank is going to need to analyze statistical data to determine the feasibility of a loan on a house in a given area. Scientists use probability and statistical data when performing experiments. It is also used in astronomy to calculate where a given star will be at a given time based on past statistical data.


What is a confidence interval?

Answers.com says it is: A statistical range with a specified probability that a given parameter lies within the range. I think that means, just how confident you are that your statistical analysis is correct.


What's the relationship between fundamental and derived quantities?

According to the (National Institute of Standards and Technology (NIST), "The SI is founded on seven SI base units for seven base quantities assumed to be mutually independent, as given in Table 1.""Other quantities, called derived quantities, are defined in terms of the seven base quantities via a system of quantity equations. The SI derived units for these derived quantities are obtained from these equations and the seven SI base units. Examples of such SI derived units are given in Table 2, where it should be noted that the symbol 1 for quantities of dimension 1 such as mass fraction is generally omitted. "Refer to the Related Link below in order to see Table 1 and Table 2.


What is weight factor?

In statistical mechanics ,weight factor is the number of microstates that correspond to a given macrostate


What name is given to a quantity that has both the features of vector and scalar quantities?

Course


What is the relationship between fundamental and derived quantities?

According to the (National Institute of Standards and Technology (NIST), "The SI is founded on seven SI base units for seven base quantities assumed to be mutually independent, as given in Table 1.""Other quantities, called derived quantities, are defined in terms of the seven base quantities via a system of quantity equations. The SI derived units for these derived quantities are obtained from these equations and the seven SI base units. Examples of such SI derived units are given in Table 2, where it should be noted that the symbol 1 for quantities of dimension 1 such as mass fraction is generally omitted. "Refer to the Related Link below in order to see Table 1 and Table 2.


How can one determine the standard value for a given parameter?

To determine the standard value for a given parameter, one can use statistical methods such as calculating the mean, median, or mode of a set of data points related to that parameter. These values represent typical or average values for the parameter and can help establish a standard reference point.


What is Upward and Downward Bias?

The upward and the downward bias refers to the overestimation or overstatement by a statistical measure of a given event.