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STATISTICS (TYPES OF STATISTICS (REGRESSION ANALYSIS (determines the…
STATISTICS
STATISTICS?
It is branch of mathematics that deals with the collection, organization, and analysis of numerical data and with such problems as experiment design and decision making.
TYPES OF STATISTICS
REGRESSION ANALYSIS
determines the extent to which specific factors such as interest rates, the price of a product or service, or particular industries or sectors influence the price fluctuations of an asset. This is depicted in the form of a straight line called linear regression.
KURTOSIS
measures whether the data are light-tailed (less outlier-prone) or heavy-tailed (more outlier-prone) than the normal distribution. Data sets with high kurtosis have heavy tails, or outliers, which implies greater investment risk in the form of occasional wild returns. Data sets with low kurtosis have light tails, or lack of outliers, which implies lesser investment risk.
SKEWNESS
describes the degree a set of data varies from the standard distribution in a set of statistical data. Most data sets, including commodity returns and stock prices, have either positive skew, a curve skewed toward the left of the data average, or negative skew, a curve skewed toward the right of the data average.
MEAN
A mean is the mathematical average of a group of two or more numerals. The mean for a specified set of numbers can be computed in multiple ways, including the arithmetic mean, which shows how well a specific commodity performs over time, and the geometric mean, which shows the performance results of an investor’s portfolio invested in that same commodity over the same period.
VARIANCE
Variance is a measurement of the span of numbers in a data set. The variance measures the distance each number in the set is from the mean. Variance can help determine the risk an investor might accept when buying an investment.
BRANCHES OF STATICTICS
INFERENTIAL STATISTICS
Analyzes sample data to draw conclusions about a population. The process of obtaining information about a large group from study of a smaller group
EXAMPLE:
Those men suffering from dengue with an age 20-25 years old can be treated successfully at a particular hospital last year using the newest medical procedure and new technology were 20-25 years old.
DESCRIPTIVE STATISTICS
Focuses on collecting, summarizing, and presenting a set of data.
EXAMPLE:
The average male patients suffering from dengue are treated at a particular hospital last year using the newest medical procedure and new technology were 20-25 years [old.]
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