Across the globe, thousands of Free Trade Zones and Special Economic Zones (SEZs) have been established. These strategic locations can be pivotal in driving international trade and economic expansion. They…
The Poisson distribution is named after the 19th-century French mathematician Siméon Denis Poisson. It significantly influences the modelling of count data and the prediction of rare events in economic and…
The chi-square distribution is an essential concept in statistics, also widely used in economic research. It represents the distribution of the sum of squared independent standard normal variables. Furthermore, this…
The F-distribution is a continuous statistical distribution developed by Ronald Fisher and George W. Snedecor. It stands crucial in hypothesis testing and the scrutiny of variance within diverse disciplines, prominently…
The t-distribution, an essential tool also known as the Student's t-distribution, resembles the normal distribution but it is tailored for scenarios where sample sizes are small and population variance is…
The binomial distribution stands as a cornerstone in statistical theory. It depicts the probability of achieving a certain number of successes or failures over multiple Bernoulli trials. Hence, its primary…
The Bernoulli distribution stands as the cornerstone of discrete probability distributions. It serves as a bedrock for various statistical and econometric paradigms, enabling the probability calculation for dichotomous outcomes -…
Did you know that nearly 99.7% of data points in a normal distribution are within three standard deviations of the mean? This fundamental aspect of the normal distribution, or Gaussian…
The Augmented Dickey Fuller or ADF Test of stationarity is a unit root based test. It attempts to overcome the shortcomings of the original Dickey Fuller test. Researchers often observed…
Public goods, unlike private commodities, possess unique attributes that underpin a fundamental economic challenge. These goods can be utilized by multiple individuals concurrently without diminishing in value. This fundamental quality…
The principal-agent problem sits at the nexus of several modern economic dilemmas. The scenario involves a principal, for example, a shareholder, who entrusts funds or resources to an agent, often…
Though it might seem trivial, information asymmetry plays a profound role in market dynamics, often causing significant issues. Asymmetric information manifests when one entity in an exchange holds a considerable…
Defined within the free market context, market failure denotes the ineffective allocation of goods and services. This imbalance transpires when the volume of services or goods supplied does not align…
In April, India saw a considerable rise in wholesale prices, hitting a 13-month peak at 1.26%. This uptick stresses the mounting inflationary burdens on businesses nationwide. Therefore, the Wholesale Price Index…
The Ministry of Statistics and Programme Implementation (MoSPI) undertakes the calculation of the Consumer Price Index in India (CPI). This process involves data gathering from 1181 village markets and 1114…
