ComparisonsAccountingEconomic DictionaryEconomyCompaniesStatisticsStoryMathPresent### | Author at Economipedia

Editor at Economipedia. He has a degree in Business Sciences and a university master's degree in social and legal science research, both at the University of Extremadura (Spain). He is currently doing doctorate studies in economics. In addition to writing at Economipedia, he is a researcher at the University of Extremadura. His main lines of research are entrepreneurship and teleworking.Administrative personnel are the personnel employed in a company, in charge of the administration of said c...

Economic DictionaryStatisticsMath### Variance analysis

Analysis of variance, or ANOVA (analysis of variance), are multivariate dependency analysis techniques used to determine if there are significant differences between the tights of three or more groups population. Therefore, with this analysis we will find out if there are differences between certain groups when we modify one or more characteristics. To find out, we use the value of the average of the data. Its use is very frequent in fields such as economy or medicine. Previous assumptions of...

Economic DictionaryStatisticsMath### Calculate Poisson Density Function in Excel

The Poisson distribution is a discrete probability distribution that models the frequency of events determined during a time interval set from the average frequency of occurrence of said events. In other words, the Poisson distribution is a discrete probability distribution that, only knowing the events and their frequency half occurrence, we can know your probability.ExpressionGiven a discrete random variable X we say that its frequency can be satisfactorily approximated to a Poisson distrib...

Economic DictionaryStatisticsMath### Coefficient of determination (R squared)

The coefficient of determination is the proportion of the total variance of the variable explained by the regression. The coefficient of determination, also called R squared, reflects the goodness of fit of a model to the variable that it intends to explain. It is important to know that the result of the coefficient of determination ranges from 0 to 1. The closer its value is to 1, the better the fit of the model to the variable we are trying to explain. Conversely, the closer to zero, the le...

Economic DictionaryStatisticsMath### Linear correlation coefficient

Correlation, also known as the linear correlation coefficient (Pearson's), is a regression measure that aims to quantify the degree of joint variation between two variables.Therefore, it is a statistical measure that quantifies the linear dependence between two variables, that is, if the values that take two variables, the linear correlation coefficient will indicate how well or badly the set of points represented approximates a straight.In a less colloquial way, we can define it as the num...

Economic DictionaryStatisticsMath### Standard or standard deviation

The standard deviation or standard deviation is a measure that provides information about the mean dispersion of a variable. The standard deviation is always greater than or equal to zero.To understand this concept we need to analyze 2 fundamental concepts.Mathematical hope, expected value or mean: It is the mean of our data series.Deviation: The deviation is the separation that exists between any value of the series and the mean. See all measures of dispersion Now, understanding these two co...

Economic DictionaryStatisticsMath### Difference between parametric and nonparametric statistics

The difference between parametric and non-parametric statistics is based on the knowledge or ignorance of the probability distribution of the variable to be studied.Parametric statistics uses calculations and procedures assuming you know how the random variable to study. On the contrary, non-parametric statistics uses methods to know how a phenomenon is distributed, and later, use parametric statistics techniques.The definitions of both concepts are illustrated below:Parametric statistics: Re...

Economic DictionaryStatisticsMath### Student's t distribution

Student's t distribution or t distribution is a theoretical model used to approximate the first order moment of a population normally distributed when the size of the shows it is small and the standard deviation is unknown. In other words, the t-distribution is a probability distribution that estimates the value of the mean of a small sample drawn from a population that follows a normal distribution and of which we do not know its standard deviation. Recommended articles: degrees of freedom, ...

Economic DictionaryStatisticsMath### Bernoulli and Binomial Example

The main difference between binominal distribution and the Bernoulli distribution is that the binomial distribution is to repeat (n) times the only experiment that appears in the Bernoulli process and record the favorable results. In other words, the binomial distribution is to repeat the experiment that follows a Bernoulli distribution as many times as necessary and record the results that are “successes”. Therefore, Bernoulli and binomial are not the same.For an experiment to be approximate...

Economic DictionaryStatisticsMath### Bernoulli distribution example

The Bernoulli distribution is a theoretical model used to represent a random variable discrete which can only end in two mutually exclusive results.Recommended articles: sample space, Bernoulli distribution and Laplace's law. Bernoulli exampleWe assume that we are very fans of a rider in a cycling competition in which only two riders compete. We want to bet that broker wins. Cyclist.So if he wins it will be a "success" result and if he loses it will be a "no success" result. Schematically: Sc...

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