12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
A confidence interval is an interval that bounds an estimate of an unknown quantity. It gives a probability that the unknown quantity lies within the confidence interval. Confidence intervals are a common tool in statistics for making an estimate of an unknown quantity. They are often used to assess the accuracy of the estimate and to make predictions about a specified population.
12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
A normal distribution is a continuous probability distribution that can be described as a symmetrical "bell"-shaped curve pattern. It is also referred to as the Gaussian normal distribution or Gaussian distribution. It is the most commonly used distribution in statistics. In a normal distribution, the values are arranged so that the average values are in the middle and the extreme values are at the edge.
12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
Data visualization is a technique that allows complex data sets and information to be presented and interpreted in a visual form. These visualizations can be created as charts, maps, tables, networks, graphs, infographics, or other visual forms. They can help us see trends, patterns, and relationships in data, and they allow us to more easily understand and analyze the information.
12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
The chi-square test (also chi-square test or chi-square test) is a statistical test used to test hypotheses about the independence of two characteristics. It is often used to test the significance of an observational or experimental data analysis. The chi-square test is used to find out whether a particular set of observations or measurements is significantly different from the expected value. The test is based on comparing the empirical probabilities of a particular outcome with the theoretical probability of the same outcome.
12/06/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
The Anova test is a statistical procedure used to examine differences between two or more groups. It is often used in research to determine whether mean values differ significantly between two or more groups. The Anova test can also be used as part of a larger design to examine the influence of factors on a particular variable.