Statistics How To

Time Plot > Contents: Order of Integration (Time Series) Order of Integration (Integrals) Order of Integration (Time Series) You may want to read this article first: What is a Unit Root? “Order of integration” is a summary statistic used to describe a unit root process in time series analysis. Specifically, it tells you the minimum … Read more

Charts and Graphs > > Causal Graph What is a Causal Graph Model? A causal graph model (also called Bayesian networks, DAGs or path diagrams) are a way to represent how causality works in terms of what causes what. These probabilistic graphical models are used to encode assumptions about data-generating processes. Independence and conditional independence … Read more

Probability Distributions > What is the Beta Geometric Distribution? The Beta Geometric distribution is a unique type of distribution. We can think about it as being composed of two pieces: the probability that success will occur, and what’s known as shape parameters α and β which must always be positive numbers. This combination creates an … Read more

Markov Chain Monte Carlo > The Metropolis-Hastings algorithm is a popular statistical sampling method used in statistics and data science. It is a Markov chain Monte Carlo (MCMC) algorithm, meaning that it uses random samples from a probability distribution to estimate parameters. In this blog post, we will discuss what the Metropolis-Hastings algorithm is, how … Read more

Probability Distributions > Beta-Binomial & Beta-Bernoulli Distribution A beta-binomial distribution is a mixture of a binomial and beta distribution, so you may find it helpful to read these articles first: Binomial Distribution. What is a Beta Distribution? What is the Beta-Binomial Distribution? The beta-binomial distribution is one of the simplest Bayesian models. It is widely … Read more

Descriptive Statistics > How to Make a Relative Frequency Histogram Contents (click to skip to that section): What is Relative Frequency? Making a Table Relative Frequency Histogram How to Make a Relative Frequency Histogram: Steps What is Relative Frequency? Relative frequency is how often something happens divided by all the possible outcomes. The relative frequency … Read more

Types of Variable > Qualitative Variable: What is it? A qualitative variable, also called a categorical variable, is a variable that isn’t numerical. It describes data that fits into categories. For example: Eye colors (variables include: blue, green, brown, hazel). States (variables include: Florida, New Jersey, Washington). Dog breeds (variables include: Alaskan Malamute, German Shepherd, … Read more

Probability and Statistics > Basic Statistics > 5 Number Summary in Excel How to find a 5 number summary in Excel A five number summary is a way to describe data. It is made up of five statistics: The median (the middle). The maximum value. The minimum value. Q1, the first quartile. Q3, the third … Read more

Statistics Definitions > Standardized Variables What are Standardized Variables? A standardized variable means something slightly different according to where you’re using it. Use in Probability and Statistics. Use in General Science (including biology). 1. Use in Probability and Statistics In statistics, standardized variables are variables that have been standardized to have a mean of 0 … Read more

Statistics Definitions > Midrange What is the Midrange? The midrange is a type of average, or mean. For example, “midrange” electronic gadgets are in the middle-price bracket: not cheap, but not expensive, either. The formula to find the midrange = (high + low) / 2. Example problem: Current cell phone prices in a mobile phone … Read more