Statistics

variance-and-standard-deviation

Variance and Standard Deviation

Variance and Standard Deviation are both essential concepts in statistics and finance. Let’s explore the differences between them: Variance: Definition: Variance is a numerical value that describes the variability of observations from their arithmetic mean. Calculation: To find the variance, calculate the squared differences between each data point and the mean, then average these squared […]

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Random Variable and Probability Mass Function

Random Variable and Probability Mass Function

Random variable   is a very  important concept in probability, statistics, data science and machine learning, one must  learn concept of random variable and related concepts. In this post, I have explained random variable and probability mass function that will help you to have basic understanding of  random variable and probability mass function. To understand random

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Ungrouped and Grouped Data in Statistics

Ungrouped data- Ungrouped data refers list of individual observations which are not categorized or summarized. Basically, ungrouped data are  collected   by statisticians to get insights from data , researchers  to prepare a scholarly  article or by by organizations   preparing report. A simple example of ungrouped data, marks obtained  by 25 students in class out  out

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