Statistics MCQs, Analysis, Software
The Akaike Information Criteria/Criterion (AIC) is a method used in statistics and machine learning to compare the relative quality of different models for a given dataset. The AIC method helps in selecting the best model out of a bunch by penalizing models that are overly …
Introduction to Estimation of Population Parameters In statistics, estimating population parameters is important because it allows the researcher to conclude a population (whole group) by analyzing a small part of that population. The estimation of population parameters is done when the population under study is …
Introduction to Empirical Probability An empirical probability (also called experimental probability) is calculated by collecting data from past trials of the experiments. The experimental probability obtained is used to predict the future likelihood of the event occurring. Formula and Examples of Empirical Probability To calculate …
Introduction to Median of Ungrouped Data The post is about calculating the median ungrouped data. The median is the most central point (middlemost central value) of the data/set of observations, with the condition that the data or set of observations should be arranged in ascending …