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 Shapiro Wilk test is a statistical test used to determine whether a sample or data comes from a normal distribution. Samuel Shapiro and Martin Wilk developed this test in…
The Kolmogorov Smirnov Test or the KS test is a nonparametric test used to determine whether a sample belongs to a specific distribution. Moreover, it can also be used to…
The Mann Whitney U Test is sometimes called the Wilcoxon Rank Sum Test. Researchers use this nonparametric test to compare two independent groups or samples. In this sense, the Mann…
