Statistics is a branch of math that involves the collection, description, analysis, and inference of conclusions from quantitative data. But what is a statistic? Let’s find out. The word statistic is ...

Confidence intervals are computed from a random sample and therefore they are also random. The long run behavior of a 95% confidence interval is such that we’d expect 95% of the confidence intervals ...

Statistical inference in the context of censored data and competing risks represents a crucial area in reliability engineering, biomedical research, and numerous safety-critical applications. This ...

Imagine we had a question: “Do men and women differ on X?” No matter what “X” is—height, empathy, knowledge of 13 th century Spanish history, or anything else—we know that any given man will be ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Sufficiency has long been regarded as the primary reduction procedure to simplify a statistical model, and the assessment of the procedure involves an implicit global repeated sampling principle. By ...

What is a one sample t test? The t test is a commonly used hypothesis test in statistics that allows us to compare the mean value of a group of sampled data with some hypothesized value, usually a ...