Statistics How To

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

Descriptive Statistics > Timeplot Contents: What is a Timeplot? Timeplot in Minitab What is Smoothing? What is Seasonality? Filtering Time Series Transformation Related Articles 1. What is a Timeplot? A timeplot (sometimes called a time series graph) displays values against time. They are similar to Cartesian plane x-y graphs, but while an x-y graph can … Read more

Statistics Definitions in Plain English with Examples > In this blog post, we will be discussing rational numbers and irrational numbers to better understand their properties and how they differ from one another. Rational Numbers Explained Rational numbers are defined as any number that can be expressed in the form of a ratio (e.g., P/Q … Read more

Probability > Probability is a key concept in mathematics that is used to measure the likelihood of an event occurring. Over the years, many interpretations of probability have emerged to explain how it works and why it is so important for decision-making. In this blog post, we will explore five leading interpretations of probability—classical, logical, … Read more

Statistics definitions > Have you ever been stuck on a math problem that seemed impossible to solve? Sometimes, exact solutions to math problems are too difficult or expensive to calculate. That’s where numerical analysis comes in. Numerical analysis is a branch of mathematics used to approximate the solution of continuous problems using numeric approximation. In … Read more

Binomial Theorem > Binomial probabilities in Minitab How to Find Binomial Probabilities in Minitab Binomial probability is a way of calculating the probability of an event happening in a binomial trial (i.e. a trial with only two possible outcomes, like tossing a coin). How you find binomial probabilities in Minitab depends on which type of … Read more

Statistics Definitions > Mode Contents: What is the Mode? How to find the mode by hand How to find the mode using Excel Find the mode in Minitab What is the Mode? The mode, or modal value, is the most common number in a data set. It’s useful in statistics because it can tell you … Read more

F Ratio > Mean Square Between What is Mean Square Between? Mean square between gives you an idea of differences between sample means. It’s biggest use is to find the F ratio in an ANOVA test. Depending on the author, it is denoted by MS(B), σ2 or . On its own, MS(B)isn’t a very useful … Read more

Statistics Definitions > Location Parameter What is a Location Parameter? The location parameter tells you where your graph is located. More specifically, it tells you where on the horizontal axis a graph is centered, relative to the standard normal model. The standard normal distribution curve is centered at 0 (the mean), so a parameter of … Read more

Statistics Definitions > 10% Condition 10% Condition The 10% condition states that sample sizes should be no more than 10% of the population. Whenever samples are involved in statistics, check the condition to ensure you have sound results. Some statisticians argue that a 5% condition is better than 10% if you want to use a … Read more