Explain why the numbers 1.645, 1.96, and 2.575 are important in statistics. What is the meaning of PEMDAS when pertaining to math equations? Give four different symbols that have been used to represent statistical measures. Describe what measure each represents. What does SXX mean in statistics?
Tip:In statistics, the word parameter rarely pops up. That’s because ALL we deal with is statistics! You might see something like “population mean.” That makes it more obvious it’s about the whole parameter. When you see just “mean,” that’s usually a statistic. ...
Statisticians use words deliberately and specifically, but not necessarily in the way they are used colloquially. For example, in general parlance 'statistics' can mean numerical information, usually data. In contrast, one large statistics textbook defines the term 'statistic' to denote 'a ...
Two words that come up often in statistics are mean and proportion. If you were to take three exams in your math classes and obtain scores of 8686, 7575, and 9292, you would calculate your mean score by adding the three exam scores and dividing by three (your mean score would ...
What does the smaller number beside the variable mean in Statistics? The i-th position In Elementary Statistics and Probability Theory, the little number next to a variable, say the i inXirepresents the i-th position of said variable. These types of subscripts are commonly seen when ...
Modern financial theories such as theBlack-Scholes modeldraw heavily on the laws of statistics and mathematics found in science. Their very creation would have been impossible if science hadn’t laid the initial groundwork. Theoretical constructs such as the capital asset pricing model (CAPM) and ...
Population mean: the average value in apopulation. Other Types Thereareother types of means, and you’ll use them in various branches of math. However, most have very narrow applications to fields like finance or physics; if you’re in elementary statistics you probably won’t work with them...
Online courses have many obvious advantages. First of all, online courses make our learning more convenient and flexible, allowing us to overcome the limitations of time and space. In addition, through online courses, we have access to many quality educational resources. For example, we can liste...
What Does Heteroskedasticity Mean? Heteroskedasticity in statistics is the error variance. This is the dependence of scattering that occurs within a sample with a minimum of one independent variable. This means that the standard deviation of a predictable variable is non-constant. ...
What does it mean exactly?Well, if you have a group chat where you share tons of memes, you can pin the most memorable and funniest ones in the DM chat. That way, they won’t get lost, and you can revisit them whenever you want....