Statistics

  Median Median is the value of the variable that divides the ordered set of values into two equal parts. In another words,median is the middle most value of ordered( ascending or descending)set of values.50% of values are to the left side of the median and 50% values are on right side of the median. let us consider there are N values in the data set. I)when N is odd,then  Median=size of(N+1/2) th item(Arranging values in ascending or descending order) Example:  values =1,2,3,4,5 here,Median is 3 II) when N is even , median is the average of size of (N/2)th item and (N+2/2) th item. Example: Heights (in cm) = {180, 167, 154, 122, 181, 135, 123, 145, 166, 145} Rearranged Heights= {122, 123, 135, 145, 145, 154, 166, 167, 180, 181} Median = (145+154)/2 = 149.5= 149.5 Median is preferable measure of location for asymmetric distribution.Median is best measure of central tendency as it is least affected by extreme values.Median can be visually located for discrete values....

  In  this post we will see different types of mean ,their interrelation with each other and their interpretation... Mean is of mainly  three different types the first one is arithmetic mean (AM),second one is geometric mean(GM) and  third one is harmonic mean(HM). First we will see about the arithmetic mean. Arithmetic mean (AM)     In mathematics and statistics, the arithmetic mean is nothing but mean,is the sum of collection of number divided by the count of numbers in collection.. Let us take an example,the set of values is 10,20,30  The arithmetic mean is 20. This mean is mostly used to get rough idea or overview about data set. Geometric mean(GM) Geometric mean is type of average and is defined as"the n'th root of product of n numbers" Geometric mean for 10,20,30 is 18.1712 Most important use of geometric mean is usually used in for growth rates like population growth rate. Harmonic mean Harmonic mean is the reciprocal of the average of reciproca...

Why we should learn about data?let us take look at some amazing applications first,As we all know some services want feedback from us...Why they need our feedback...Yes,they want to give satisfaction to us through there services...What data play role in this?As customers satisfies with services then the business will grow well and every company and business persons want to make more money through providing a quality service...How they do it?The simple answer is that they analyse there services..For this purpose they require data...So today we will see some information about data and its types... Types of data Data is mainly classified into two parts Categorical Categorical Data represents groups or categories Examples:     Laptop brands-Hp,Dell,Mac etc.,  Answers to yes/no questions- yes or no.             Numerical  Numerical data represent numbers. It is divided into two groups: Discrete and Contin...

  Today we are going to see what do we mean by "mean" in statistics... As we all are cricket lovers,we come across some statistical words like score,strike rate,average runs Etc... Ya,this have some relation to statistics as we judge a batsman by run he scored and what is the average runs scored by him in his entire career? What this average means? This average is nothing but the the arithmetic mean or simply mean... Mean can be defined as  the sum of a collection of numbers divided by the count of numbers in the collection. As it depend upon every value in the collection so it is sensitive to extreme values... let us take an example,Here are some values of 10,20,30,40,50 as the definition says the value of mean will be 30. Then let us take again some values like 10,20,30,40,70 now,the mean will be 34 As the only one value changes in data the average or mean changes,So we can say that mean is not the reliable measure always(may be in some cases)... It has wide application in ...

  welcome guys, Suppose,some one asked to you that,"I want to do course on statistics,What you think it will be useful for me? Then you replied that yes,I think so,there is 80% chance that you will get the  successful job careers with that... What this chance scientifically called in statistics?Any guess...? Yes,you are absolutely correct,its nothing but the "probability" Sometimes we use word  "probably" in many situations...This word indicating that you are not sure about something...This same happens in many situations and problems.... The mathematical methods of probability invented due fair division of stake in an interrupted game of chance and it is firstly invented by Gerolamo Cardano in 1560s(not published until 100 years later) and corresponded by De Fermat and Pascal later... Let us consider the following definition about probability... Event can be defined as outcome or collection of outcome of an random experiment... Probability When we unsure about...

We always want some meaningful definition of subject we are interested,studying and want to make our great future with that subject...So today we will see "what is statistics?" The most valuable and in demand subject statistics... As lot of statisticians given the various definitions to "STATISTICS"   by their thinking and great sense of knowledge... As in words of father of statistics Dr.R.A.Fisher "The science of  statistics is essentially a branch of applied mathematics and may be regarded as mathematics applied to observational data." The another famous definition along the students of statistics is "Statistics is branch of mathematics deals with collection,organization,analysis,interpretation and presentation of data" Now days,Statistics have wide applications in Government,Business and project works...As statistics have an ability to boost the financial growth,constructing business,planning,helping peoples to make more money by using its ap...