### BS/U3 Topic 7 Properties of Correlation co-efficient

The following are the main properties of correlation. Coefficient of Correlation lies between -1 and +1: The coefficient of correlation cannot take value less than -1 or more than one […]

### BS/U3 Topic 8 Rank correlation; coefficient of determination

Rank correlation Sometimes there doesn’t exist a marked linear relationship between two random variables but a monotonic relation (if one increases, the other also increases or instead, decreases) is clearly […]

### BS/U3 Topic 9 Lines of Regression; Co-efficient of regression

Lines of Regression The Regression Line is the line that best fits the data, such that the overall distance from the line to the points (variable values) plotted on a graph is […]

### BS/U3 Topic 10 Standard error of estimate

The Standard Error of Estimate is the measure of variation of an observation made around the computed regression line. Simply, it is used to check the accuracy of predictions made with the […]

### BS/U2 Topic 1 Meaning and Objectives of Measures of Central Tendency

Measures of Central Tendency or Averages have been defined differently by different statisticians. “A measure of Central tendency is a typical value around which other figures congregate.” —Simpson and Kafka […]

### BS/U2 Topic 2 Arithmetic Mean: Characteristics, Applications and Limitations

The arithmetic mean,’ mean or average is calculated by summing all the individual observations or items of a sample and dividing this sum by the number of items in the […]

### BS/U2 Topic 3 Median – Characteristics, Applications and Limitations

The median of a set of data values is the middle value of the data set when it has been arranged in ascending order. That is, from the smallest value […]

### BS/U2 Topic 4 Mode – Characteristics, Applications and Limitations

The mode is a statistical term that refers to the most frequently occurring number found in a set of numbers. The mode is found by collecting and organizing data in […]

### BS/U2 Topic 5 Geometric Mean – Characteristics, Applications and Limitations

A geometric mean is a mean or average which shows the central tendency of a set of numbers by using the product of their values. For a set of n […]

### BS/U2 Topic 6 Harmonic Mean – Characteristics, Applications and Limitations

A simple way to define a harmonic mean is to call it the reciprocal of the arithmetic mean of the reciprocals of the observations. The most important criteria for it […]

### BS/U2 Topic 7 Range

The Range of a distribution gives a measure of the width (or the spread) of the data values of the corresponding random variable. For example, if there are two random […]

### BS/U2 Topic 8 Quartile Deviation

The Quartile Deviation is a simple way to estimate the spread of a distribution about a measure of its central tendency (usually the mean). So, it gives you an idea […]

### BS/U2 Topic 9 Mean Deviation and Standard Deviation

Mean Deviation To understand the dispersion of data from a measure of central tendency, we can use mean deviation. It comes as an improvement over the range. It basically measures […]

### BS/U2 Topic 10 Co-efficient of Variation

The coefficient of variation (CV) is a statistical measure of the dispersion of data points in a data series around the mean. The coefficient of variation represents the ratio of […]

### BS/U2 Topic 11 Skewness

Skewness, in statistics, is the degree of distortion from the symmetrical bell curve, or normal distribution, in a set of data. Skewness can be negative, positive, zero or undefined. A normal […]

### BS/U1 Topic 1 Statistics: Meaning, Evolution, Scope, Limitations and Applications

The term “statistics” is used in two senses: first in plural sense meaning a collection of numerical facts or estimates—the figure themselves. It is in this sense that the public […]