Definition: The Chi-Square Test is the widely used non-parametric statistical test that describes the magnitude of discrepancy between the observed data and the data expected to be obtained with a specific hypothesis. The observed and expected frequencies are said to be completely coinciding when the χ2 = 0 and as the value of χ2 increases the discrepancy between the … [Read more...] about Chi-Square Test
Business
Chi-Square Distribution
Definition: The Chi-Square Distribution, denoted as χ2 is related to the standard normal distribution such as, if the independent normal variable, let’s say Z assumes the standard normal distribution, then the square of this normal variable Z2 has the chi-square distribution with ‘K’ degrees of freedom. Here, K is the sum of the independent squared normal variables. The … [Read more...] about Chi-Square Distribution
Properties of F-Distribution
Definition: The F-distribution depends on the degrees of freedom and is usually defined as the ratio of variances of two populations normally distributed and therefore it is also called as Variance Ratio Distribution. Properties of F-Distribution There are several properties of F-distribution which are explained below: The F-distribution is positively skewed and with the … [Read more...] about Properties of F-Distribution
F-Distribution
Definition: The F-Distribution is also called as Variance Ratio Distribution as it usually defines the ratio of the variances of the two normally distributed populations. The F-distribution got its name after the name of R.A. Fisher, who studied this test for the first time in 1924. Symbolically, the quantity is distributed as F-distribution with ν1 =n1-1 and ν2 = n2-1 … [Read more...] about F-Distribution
Applications of t-Distribution
Definition: The t-distribution is a probability distribution method wherein the hypothesis of the mean of a small sample is tested, which is drawn from the systematic population whose standard deviation is unknown. It is a statistical measure used to compare the observed data with the data expected to be obtained from a specific hypothesis. Applications of t-distribution The … [Read more...] about Applications of t-Distribution
t-Distribution
Definition: The t-Distribution, also known as Student’s t-Distribution is the probability distribution that estimates the population parameters when the sample size is small and the population standard deviation is unknown. It resembles the normal distribution and as the sample size increases the t-distribution looks more normally distributed with the values of means and … [Read more...] about t-Distribution
Degrees of Freedom
Definition: The Degrees of Freedom refers to the number of values involved in the calculations that have the freedom to vary. In other words, the degrees of freedom, in general, can be defined as the total number of observations minus the number of independent constraints imposed on the observations. The degrees of freedom are calculated for the following statistical tests … [Read more...] about Degrees of Freedom
Hypothesis Testing Procedure
Definition: The Hypothesis is an assumption which is tested to check whether the inference drawn from the sample of data stand true for the entire population or not. Hypothesis Testing Procedure The following steps are followed in hypothesis testing: Set up a Hypothesis: The first step is to establish the hypothesis to be tested. The statistical hypothesis is an … [Read more...] about Hypothesis Testing Procedure
Hypothesis Testing
Definition: The Hypothesis Testing is a statistical test used to determine whether the hypothesis assumed for the sample of data stands true for the entire population or not. Simply, the hypothesis is an assumption which is tested to determine the relationship between two data sets. In hypothesis testing, two opposing hypotheses about a population are formed Viz. Null … [Read more...] about Hypothesis Testing
Sampling Distribution of Standard Deviation
Definition: The Sampling Distribution of Standard Deviation estimates the standard deviation of the samples that approximates closely to the population standard deviation, in case the population standard deviation is not easily known. Thus, the sample standard deviation (S) can be used in the place of population standard deviation (σ). Symbolically, S= standard error of the … [Read more...] about Sampling Distribution of Standard Deviation