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Category: Statistics

Classical Method of Time Series Analysis

Posted on May 23, 2021April 8, 2022 By admin No Comments on Classical Method of Time Series Analysis

Classical method of time series is done by decomposing a time series intro trend, seasonal, cyclic and irregular components. What is decomposing? The meaning of the word “decomposing” in Mathematics is breaking something into parts, that together are the same as original. For an example, we can decompose 664 like this; 664 –> 600 +…

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Time Series

Time Series Analysis

Posted on May 16, 2021May 16, 2021 By admin No Comments on Time Series Analysis
Time Series Analysis

Introduction Most of you have heard about the term Time Series Analysis if you have learned Statistics as a subject anywhere. We at datasciencelk, are bringing you a series of posts about Time Series Analysis in detail. So what actually is Time Series Analysis? Time Series Analysis is basically the study and forecasting of time…

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Statistics

Poisson Distribution Explained

Posted on April 19, 2020April 8, 2022 By admin No Comments on Poisson Distribution Explained

Poisson Distribution outputs the probability of a sequence of events happening in a fixed time interval.

Probability, Probability Distributions

Uniform Probability Distribution

Posted on April 7, 2020April 22, 2020 By admin No Comments on Uniform Probability Distribution
Uniform Probability Distribution

In a Uniform Distribution Probability Density Function (PDF) is same for all the possible X values. Sometimes this is called a Rectangular Distribution. There are two (2) parameters in this distribution, a minimum (A) and a maximum (B)

Probability, Probability Distributions

Normal Distribution, Z Scores and Standardization Explained

Posted on April 7, 2020May 17, 2020 By admin 4 Comments on Normal Distribution, Z Scores and Standardization Explained
Normal Distribution, Z Scores and Standardization Explained

Normal Distribution is the most important probability distribution in Probability and Statistics. A normal probability distribution is a bell shaped curve. Many numerical populations have distributions that can be fit very closely by an appropriate normal curve.

Probability Distributions

Probability Density Function

Posted on April 7, 2020April 22, 2020 By admin No Comments on Probability Density Function
Probability Density Function

Earlier we used Probability Mass Function to describe how the total probability of 1 is distributed among the possible values of the Discrete Random Variable X.

Probability Distributions

Estimation of Best Fitting Line

Posted on April 6, 2020April 22, 2020 By admin No Comments on Estimation of Best Fitting Line
Estimation of Best Fitting Line

Estimation of model parameters is an essential part in regression analysis. We do that by using the Ordinary Least Squares method

Regression Analysis

Random Variables in Statistics

Posted on April 3, 2020April 23, 2020 By admin No Comments on Random Variables in Statistics
Random Variables in Statistics

A Random Variable is any rule that maps (links) a number with each outcome in sample space S. Mathematically, random variable is a function with Sample Space as the domain. It’s range is the set of Real Numbers.

Probability Distributions

Negative Binomial Distribution

Posted on April 2, 2020April 22, 2020 By admin No Comments on Negative Binomial Distribution
Negative Binomial Distribution

In the Negative Binomial Distribution, we are interested in the number of Failures in n number of trials. This is why the prefix “Negative” is there. When we are interested only in finding number of trials that is required for a single success, we called it a Geometric Distribution.

Probability, Probability Distributions

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