We are developing a project that collects data from diverse sources. Then we need to calculate complex statistics from the data collected. Currently, we just dump all data collected to tables and ...

The T-Value is a common statistical calculation with a very wide range of applications. In the business world, it can help in making educated financial predictions and projections. For example, a ...

What are standardized residuals? How do I calculate it? How do I use it and interpret it? What are its benefits? The answers to these questions and more can be found below. Before you can understand ...

When collecting sets of numeric data that represent sales, customer survey results or other business-related outcomes, you can divide your values in four segments called quartiles. These data ...

The brain produces feelings of confidence that inform decisions the same way statistics pulls patterns out of noisy data. This feeling of confidence is central to decision making, and, despite ample ...

Journal of the Royal Statistical Society. Series D (The Statistician), Vol. 34, No. 3 (1985), pp. 317-321 (5 pages) The teaching of statistical calculation methods can be enhanced by using a ...