Someone has rightly said, "Learning has no end." Gone are the days when people believed that once they get the job, it's hard to continue studies. There are hundreds of programs run by the B-schools that offer degree courses in the working class. This not only increases their level of education but also boosts one's professional career. One such course is EMBA, which stands for Executive Master of Business Administration, which allows managers, executives, leaders, etc. to continue their … [Read more...]

There is a thin line of demarcation amidst t-test and ANOVA, i.e. when the population means of only two groups is to be compared, the t-test is used, but when means of more than two groups are to be compared, ANOVA is preferred. T-test and Analysis of Variance abbreviated as ANOVA, are two parametric statistical techniques used to test the hypothesis. As these are based on the common assumption like the population from which sample is drawn should be normally distributed, homogeneity of … [Read more...]

When it comes to research, in the field of business, economics, psychology, sociology, biology, etc. the Analysis of Variance, shortly known as ANOVA is an extremely important tool for analysis of data. It is a technique employed by the researcher to make a comparison between more than two populations and help in performing simultaneous tests. There is a two-fold purpose of ANOVA. In one way ANOVA the researcher takes only one factor. As against, in the case of two-way ANOVA, the researcher … [Read more...]

In mathematics, you might have encountered the terms expression and equation very often. As both combines number and/or variables, people often misunderstood an expression for an equation. However, these two mathematical terms are not same, and a big difference lies in their arrangement, that explains what they represent. The best way, to identify, whether a given problem is an expression or equation is that if it contains an equal to sign (=) it is an equation. However, if it does not … [Read more...]

In mathematics and statistics, the line that demarcates sequence and series are thin and blurred, due to which many think that these terms are one and the same thing. Nevertheless, the notion of sequence differs from series in the sense that sequence refers to an arrangement in the particular order in which related terms follow each other, i.e. it has an identified first unit, second unit, third unit and so forth. When a sequence follows a particular rule, it is called as progression. It is … [Read more...]

Mathematics is nothing but a number game. A number is an arithmetical value that can be a figure, word or symbol indicating a quantity, which has many implications like in counting, measurements, calculations, labelling, etc. Numbers can be natural numbers, whole numbers, integers, real numbers, complex numbers. Real numbers are further divided into rational numbers and irrational numbers. Rational numbers are the numbers which are integers and fractions On the other end, Irrational numbers … [Read more...]

In statistics, data is defined as the facts and figures collected together for the purpose of analysis. It is divided into two broad categories, qualitative data, and quantitative data. Further, the qualitative data is cannot be measured in terms of numbers and it is sub-divided into nominal and ordinal data. On the other hand, quantitative data is one that contains numerical values and uses range. It is sub-classified as discrete and continuous data. Discrete data contains finite values that … [Read more...]

Probability is a mathematical concept, which has now become a full-fledged discipline and is a vital part of statistics. Random experiment in probability is a performance that generates a certain outcome, purely based on chance. The results of a random experiment are called event. In probability, there are various types of events, as in simple, compound, mutually exclusive, exhaustive, independent, dependent, equally likely, etc. When events cannot occur at the same time, they are called … [Read more...]

The binomial distribution is one, whose possible number of outcomes are two, i.e. success or failure. On the other hand, there is no limit of possible outcomes in Poisson distribution The theoretical probability distribution is defined as a function which assigns a probability to each possible outcomes of the statistical experiment. The probability distribution can be discrete or continuous, where, in the discrete random variable, the total probability is allocated to different mass points … [Read more...]

In today's fast-paced world, statistics is playing a major role in the field of research; that helps in the collection, analysis and presentation of data in a measurable form. It is quite hard to identify, whether the research relies on descriptive statistics or inferential statistics, as people usually, lacks knowledge about these two branches of statistics. As the name suggests, descriptive statistics is one which describes the population. On the other end, Inferential statistics is used to … [Read more...]