Statistics Definitions > Marginal effects tells us how a dependent variable (outcome) changes when a specific independent variable (explanatory variable) changes. Other covariates are assumed to be held constant. Marginal effects are often calculated when analyzing regression analysis results. The…

# Probability of Selecting a Person from a Group or Committee

> Probability > Probability of selecting a person from a group or committee Watch the video or read the steps below: Probability of selecting a person from a group or committee: Overview Problems about picking people from groups or committees…

# Make a Probability Distribution in Easy Steps + Video

Probability > Construct a probability distribution Watch the video or read the steps below: Make a probability distribution: Overview A probability distribution is basically a chart of what the probability of an event happening is. It’s a way of…

# Box Muller Transform: Simple Definition

Transformations > A Box Muller transform takes a continuous, two dimensional uniform distribution and transforms it to a normal distribution. It is widely used in statistical sampling, and is an easy to run, elegant way to come up with a…

# Mean Plot: Definition

Mean > A mean plot is a plot which shows the mean, and sometimes also the standard deviation, of data. It’s used to analyze the way in which the mean varies across different groups of data or between samples. Setting…

# Area Between Two Z Values on Opposite Sides of Mean

Normal distribution curve index > area between two z values on opposite sides Watch the video or read the steps below: How to find the area between two z values on opposite sides of the mean If you want to…

# Bayes Factor: Simple Definition

Bayesian Statistics > A Bayes factor is the ratio of the likelihood of one particular hypothesis to the likelihood of another. It can be interpreted as a measure of the strength of evidence in favor of one theory among two…

# Fisk Distribution (Log-Logistic): Definition

Probability Distributions > The Fisk distribution, also called the log-logistic distribution, is a continuous probability distribution with many applications: from modeling the distribution of wealth or income in economics, to stream flow rates in hydrology to the lifetime of an…

# Post Marketing Surveillance: Definition

RCTs > Post marketing surveillance is the monitoring of drugs and other medical products after they have been initially approved and introduced to the market. It is part of the science of pharmacovigilance, which is the study of, detection, assessment,…

# Absolute Standard Deviation: What is it?

Statistics definitions > What is Absolute Standard Deviation? There isn’t a clear definition for the term “absolute standard deviation.” You might sometimes see in a text book, lab notes, lecture notes, or some other in-class materials; the author is usually…