Business Statistics

Scalability

Scalability

Scalability is a system, which scales well will be able to maintain or even increase its level of performance or efficiency when tested by larger operational demands. It is the ability of something, esp a computer system, to adapt to increased demands. It’s concept  is desirable in technol.....

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Censoring in Statistics

Censoring in Statistics

Censoring in Statistics is a condition in which the value of a measurement or observation is only partially known. It also occurs when a value occurs outside the range of a measuring instrument. Censoring in Statistics left and right censoring are special cases of interval censoring, with the beg.....

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Survival Analysis

Survival Analysis

This article describe about Survival Analysis, which is generally defined as a set of methods for analyzing data where the outcome variable is the time until the occurrence of an event of interest. It involves the modelling of time to event data; in this context, death or failure is considered an.....

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Life Expectancy

Life Expectancy

Life Expectancy refers to the expected number of years remaining for an individual at any given age. It is a statistical measure of the average time an organism is expected to live, based on the year of their birth, their current age and other demographic factors. Life Expectancy depends for a pa.....

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Population Statistics

Population Statistics

Population Statistics is chosen to represent the population in a statistical analysis. It is related to social demography and demography.  A population consists of everything or everyone being studied in an inference procedure. It can analyze anything from global demographic changes to local sma.....

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Margin of Error

Margin of Error

Margin of Error is often used in non-survey contexts to indicate observational error in reporting measured quantities. In a confidence interval, the range of values above and statistic expressing the amount of random sampling error in a survey’s results is called the margin of error. It is .....

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Sampling Error

Sampling Error

Sampling Error is an analysis performed by selecting by specific number of observations from a larger population. It is a statistical error that occurs when an analyst does not select a sample that represents the entire population of data and the results found in the sample do not represent the r.....

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Resampling in Statistics

Resampling in Statistics

Resampling in Statistics involves the selection of randomized cases with replacement from the original data sample in such a manner that each number of the sample drawn has a number of cases that are similar to the original data sample. It is the method that consists of drawing repeated samples f.....

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Sampling in Statistics

Sampling in Statistics

Sampling in Statistics is a process, which used in statistical analysis in a predetermined number of observations are taken from a larger population. It is a method of studying from a few selected items,instead of the entire big number of units. In survey sampling, weights can be applied to the d.....

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Statistical Inference

Statistical Inference

Statistical Inference means drawing conclusions based on data. There are many contexts in which inference is desirable, and there are many approaches to performing inference. It is the process of deducing properties of an underlying distribution by analysis of data. Statistical Inference is Bayes.....

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Statistical Hypothesis Testing

Statistical Hypothesis Testing

Statistical Hypothesis Testing refers to the formal procedures used by statisticians to accept or reject statistical hypotheses. It is used to determine whether there is enough evidence in a sample of data to infer that a certain condition is true for the entire population. A common misconception.....

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Survey Sampling

Survey Sampling

Survey Sampling is important to have a group of people who will participate in the survey and be able to represent the whole target population. This group is called a “sample”. Determining the right kind and number of participants in a sample group, also known as sampling, is one of the basic.....

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