Mixed ratio and proportion

Mixed ratio and proportion Ratio Introduction: Ratio is the relation which one quantity bears to another of the same kind. The ratio of two quantities a and b is the fraction a/b and we write it as a: b. In the ratio a: b, we call a as the first term or antecedent and b, the second … Read more

Data Sufficiency in Statistics

Data Sufficiency in Statistics A sufficient statistic is a statistic that summarizes all of the information in a sample about a chosen parameter. For example, the sample mean, x̄, estimates the population mean, μ. x̄ is a sufficient statistic if it retains all of the information about the population mean that was contained in the … Read more

Data Collection Analysis- Interpretation- Collection, Interpretation and Appreciation of Statistical Data

Data interpretation Data Interpretation or DI refers to the implementation of procedures through which data is reviewed for the purpose of arriving at an inference. Data can be obtained from multiple sources e.g. data from running of industries, census population data etc. Interpreting data requires analyzing data to infer information from it in order to … Read more

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