Example 1: The population from which samples are selected is {1,2,3,4,5,6}. This population has a mean of 3.5 and a standard deviation of 1.70783. The next display shows a histogram of the population.

We have previously discussed the importance of estimating uncertainty in our measurements and incorporating it into data analysis 1. To know the extent to which we can generalize our observations, we ...

The normal distribution (also known as the Gaussian distribution) is arguably the most important distribution in Statistics. It is often used to represent continuous random variables occurring in ...

Stratified sampling is considered, where (a) the mean integrated squared error (MISE) metric is used in place of the mean squared error (MSE) metric; (b) the entire ...

The central limit theorem (CLT) establishes that (under certain conditions) the properly normalized sum of independent random variables tends toward a normal distribution even if the original ...

The estimates of the parameters of the generalized geometric distribution are obtained by using ranked set sampling procedure. These estimates are compared with the ordered least squares estimates ...

J.B. Maverick is an active trader, commodity futures broker, and stock market analyst 17+ years of experience, in addition to 10+ years of experience as a finance writer and book editor. T-tests are ...