Statistics How To

Basic Statistics > Mean in Excel Contents: Excel 2016-2013. Excel 2007-2010. 1. Mean in Excel 2016-2013 The mean, also called the average, is a measure of spread in statistics. The mean is calculated by adding up all the numbers in your data set and then dividing by the number of items. It may seem like … Read more

Probability Distributions > Laplace Distribution What is a Laplace Distribution? The Laplace distribution, one of the earliest known probability distributions, is a continuous probability distribution named after the French mathematician Pierre-Simon Laplace. Like the normal distribution, this distribution is unimodal (one peak) and it is also a symmetrical distribution. However, it has a sharper peak … Read more

Statistics Definitions > Ad Hoc Analysis What is Ad Hoc Analysis? Ad hoc means “for a particular purpose only.” Ad Hoc Analysis is used in business intelligence to answer a specific question at a specific time; In other words, on an “as needed basis.” The result is a graph, report or other summary that helps … Read more

Statistics Definitions > Factor Analysis Contents: What is Factor Analysis? Factor Loadings Multiple Factor Analysis Confirmatory Factor Analysis Exploratory Factor Analysis What is Generalized Procrustes Analysis (GPA) What are Latent Variables? What are Manifest Variables? 1. What is Factor Analysis? Factor analysis is a way to take a mass of data and shrinking it to … Read more

Statistics Definitions > Arithmetic Mean Contents: What is the Arithmetic Mean? How to find it (Examples) Population vs. Sample Mean Showing the Arithmetic Mean is Greater than the Geometric Mean What is the Arithmetic Mean? The arithmetic mean is another name for the mean or the average. When someone talks about the mean of a … Read more

Statistics Definitions > Law of Large Numbers & The Law of Averages Contents: What is the Law of Large Numbers? Strong and Weak Law of Large Numbers Law of Averages The Gambler’s Fallacy What is the Law of Large Numbers? The Law of Large Numbers shows us that if you take an unpredictable experiment and … Read more

Hypothesis Testing > How to Calculate the Least significant Difference How to Calculate the Least Significant Difference (LSD): Overview When you run an ANOVA (Analysis of Variance) test and get a significant result, that means at least one of the groups tested differs from the other groups. However, you can’t tell from the ANOVA test … Read more

Regression Analysis > Homoscedasticity / Homogeneity of Variance / Assumption of Equal Variance Simply put, homoscedasticity means “having the same scatter.” For it to exist in a set of data, the points must be about the same distance from the line, as shown in the picture above. The opposite is heteroscedasticity (“different scatter”), where points … Read more

Basic Statistics> > Elementary Statistics: What is it? Elementary Statistics: What is it? Signed up for a stats class? Wondering what kind of course you’re about to take? Most of the tools you’ll be using are ones you’ve already learned in basic math classes. What is Statistics? Stats deals with data. For example: Polls in … Read more

Statistics Definitions > Link function A link function in a Generalized Linear Model maps a non-linear relationship to a linear one, which means you can fit a linear model to the data. More specifically, it connects the predictors in a model with the expected value of the response (dependent) variable in a linear way. The … Read more