Statistical analysis isn’t just for sports geeks and political pollsters. In this primer, you’ll learn about the many ways statistics can affect your world.
Statistical Analysis Defined What is statistical analysis? It’s the science of collecting, exploring and presenting large amounts of data to discover underlying patterns and trends. Statistics are applied every day, bydata scientistsand others – in research, industry and government – to become mor...
Statistical analysis can be valuable and effective, but it’s an imperfect approach. Even if the analyst or researcher performs a thorough statistical analysis, there may still be known or unknown problems that can affect the results. Therefore, statistical analysis is not a one-size-fits-all pr...
All of that data is meaningless without a way to interpret it, which is where statistics comes in.Statistical methods are used in many areas such as economics, finance, health care and marketing. For example, statistics can be used to analyze market trends in banking and finance, evaluate ...
Aparameterized statistical model is a parameter setΘtogether with a function P :Θ-> P(S), which assigns to each parameter pointθ∈Θa probability distributionPθonS.Here P(S) is the set of all probability distributions onS.In much of the following it is important to distinguish between ...
It is argued that the ubiquity of variability and uncertainty, which characterize a statistical problem, establish the subject as a major player in science and all rational enquiry. Emphasis is placed on the breadth and unity of the subject and questions are raised for the Royal Statistical ...
Several other statisticians contributed to the popularization of the parameter definition in statistics. Jerzy Neyman, a Polish-American statistician known for his work on hypothesis testing, utilized the term “parameter” in his 1937 paper, “Sufficient Statistics and Useful Tests of Statistical Hypothe...
Statistical analysis is the collection and interpretation of data in order to uncover patterns and trends. It is a component of data analytics. Statistical analysis can be used in situations like gathering research interpretations, statistical modeling or designing surveys and studies. It can also be...
Reporting the R2. Numerous pseudo-R2values have been developed for binary logistic regression. These should be interpreted with extreme caution as they have many computational issues which cause them to be artificially high or low. A better approach is to present any of the goodness of fit tests...
Statistical significance is a determination made by an analyst that the results in data aren't explainable by chance alone. An analyst makes this determination by using statisticalhypothesis testing. The test provides ap-value, which is the probability of observing results as extreme as those in th...