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Find 5 Number Summary
The 5 number Summary is one of the simplest statistic sets that any statistician will have to find. However, despite its simple computation, all of the descriptive statistics it comprises
An Easy Way To Understand Confidence Interval
The confidence interval is an important tool for statisticians and also for the lay people that want to understand to what point they can trust statistical data. For a concrete
Everything you need to know about Standard Deviation
Standard deviation is one of the most important statistical tools. It helps statisticians and researchers from various fields to find the average amount of variability present in a dataset. In
How to Calculate Margin of Error
The margin of error is a popular statistics error estimation that helps researchers and statisticians discover by how many points a sample will differ from a population parameter based on
How to Calculate Expected Value
Any random variable has multiple outcomes, which represents by a certain value of possibility. Expect value gives us expected value on a particular event over the mean value of a
How To Calculate Range
Imagine you own a farm and you want to optimize the amount of water that your horses drink. Some of them drink more and some less water depending on their
