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Ideas worth exploring. Knowledge worth sharing.
The fraction of any set of numbers lying within k standard deviations of those numbers of the mean of those…
If the population from which the sample has a been drawn is a normal population then the sample means would be equal…
The box plot is a standardized way to display the distribution of data based on following five number summary. 1. Minimum…
Standard Normal Probability Table The following table shows the area under the curve to the left of a z-score: z…
The weak law of large numbers is a result in probability theory also known as Bernoulli’s theorem. Let P be…
Venn diagram is a way to visually represents relationship between groups of entities or objects. Venn diagrams are comprised of…
A variance is defined as the average of Squared differences from mean value. Combination is defined and given by the…
The Black Scholes model is a mathematical model to check price variation over time of financial instruments such as stocks…
Type I and Type II errors signifies the erroneous outcomes of statistical hypothesis tests. Type I error represents the incorrect…
Trimmed Mean a method of averaging that removes a small percentage of the largest and smallest values before calculating the…
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