The F-statistic formula is a ratio that is obtained after performing an analysis of variance test or a regression analysis to determine whether the means of two populations are significantly different. The F statistic is typically used to determine whether the null hypo...
A statistical question is a question that can be answered using data that may vary. Any question that may be answered by a single number or answer is not considered a statistical question.
The purpose of statistics is to allow sets of data to be compared so that analysts can look for meaningful trends and changes. Analysts review the data so that they can reach conclusions regarding its meaning. Statistics allow people to see how things are or are not cor...
In the world of statistics, there are two categories you should know. Descriptive statistics and inferential statistics are both important. Each one serves a purpose.
Experts use statistics to understand large and complex sets of data. Statistics are also helpful with surveys, which legislators use to affect policy. Knowing how statistics work is important for fully understanding news reports.
Accountants in various fields, including auditors, forensic accountants, controllers and risk accountants, use statistics to accomplish their professional duties. Accountants who conduct audits use samples that are statistically representative of a data base because it ...
Sample mean is calculated by finding the sum of all terms in the selected sample and dividing this figure by the total number of terms. This formula is used to compute the average of the data collected.