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Statistics By Jim

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Sum of Squares: Definition, Formula & Types

By Jim Frost 1 Comment

What is the Sum of Squares?

The sum of squares (SS) is a statistic that measures the variability of a dataset’s observations around the mean. It’s the cumulative total of each data point’s squared difference from the mean. [Read more…] about Sum of Squares: Definition, Formula & Types

Filed Under: Regression Tagged With: conceptual

Mann Whitney U Test Explained

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What is the Mann Whitney U Test?

The Mann Whitney U test is a nonparametric hypothesis test that compares two independent groups. Statisticians also refer to it as the Wilcoxon rank sum test. [Read more…] about Mann Whitney U Test Explained

Filed Under: Hypothesis Testing Tagged With: analysis example, assumptions, distributions, interpreting results

Covariance: Definition, Formula & Example

By Jim Frost Leave a Comment

What is Covariance?

Covariance in statistics measures the extent to which two variables vary linearly. It reveals whether two variables move in the same or opposite directions. [Read more…] about Covariance: Definition, Formula & Example

Filed Under: Basics Tagged With: analysis example, conceptual, interpreting results

Box Plot Explained with Examples

By Jim Frost Leave a Comment

What is a Box Plot?

A box plot, sometimes called a box and whisker plot, provides a snapshot of your continuous variable’s distribution. They particularly excel at comparing the distributions of groups within your dataset. A box plot displays a ton of information in a simplified format. Analysts frequently use them during exploratory data analysis because they display your dataset’s central tendency, skewness, and spread, as well as highlighting outliers. [Read more…] about Box Plot Explained with Examples

Filed Under: Graphs Tagged With: choosing analysis, data types, distributions, graphs

Framing Effect: Definition & Examples

By Jim Frost Leave a Comment

What is the Framing Effect?

The framing effect is a cognitive bias that distorts our decisions and judgments based on how information is presented or ‘framed.’ This effect isn’t about lying or twisting the truth. It’s about the same cold, hard facts making us think and act differently just by changing their packaging. [Read more…] about Framing Effect: Definition & Examples

Filed Under: Basics Tagged With: bias sources, conceptual

Trimmed Mean: Definition, Calculating & Benefits

By Jim Frost 7 Comments

What is a Trimmed Mean?

The trimmed mean is a statistical measure that calculates a dataset’s average after removing a certain percentage of extreme values from both ends of the distribution. By excluding outliers, this statistic can provide a more accurate representation of a dataset’s typical or central values. Usually, you’ll trim a percentage of values, such as 10% or 20%. [Read more…] about Trimmed Mean: Definition, Calculating & Benefits

Filed Under: Basics Tagged With: assumptions, conceptual, distributions

Range Rule of Thumb: Overview and Formula

By Jim Frost 2 Comments

What is the Range Rule of Thumb?

The range rule of thumb allows you to estimate the standard deviation of a dataset quickly. This process is not as accurate as the actual calculation for the standard deviation, but it’s so simple you can do it in your head. [Read more…] about Range Rule of Thumb: Overview and Formula

Filed Under: Basics Tagged With: analysis example, distributions

Gambler’s Fallacy: Overview & Examples

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What is the Gambler’s Fallacy?

The gambler’s fallacy is a cognitive bias that occurs when people incorrectly believe that previous outcomes influence the likelihood of a random event happening. The fallacy assumes that random events are “due” to balance out over time. It’s also known as the “Monte Carlo Fallacy,” named after a casino in Monaco where it was famously observed in 1913. [Read more…] about Gambler’s Fallacy: Overview & Examples

Filed Under: Basics Tagged With: bias sources, conceptual

Root Mean Square Error (RMSE)

By Jim Frost 4 Comments

What is the Root Mean Square Error?

The root mean square error (RMSE) measures the average difference between a statistical model’s predicted values and the actual values. Mathematically, it is the standard deviation of the residuals. Residuals represent the distance between the regression line and the data points. [Read more…] about Root Mean Square Error (RMSE)

Filed Under: Regression Tagged With: conceptual, interpreting results

Unimodal Distribution Definition & Examples

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What is a Unimodal Distribution?

A unimodal distribution in statistics refers to a frequency distribution that has only one peak. Unimodality means that a single value in the distribution occurs more frequently than any other value. The peak represents the most common value, also known as the mode. [Read more…] about Unimodal Distribution Definition & Examples

Filed Under: Basics Tagged With: conceptual, distributions, graphs

Representativeness Heuristic: Definition & Examples

By Jim Frost Leave a Comment

What is the Representativeness Heuristic?

The representativeness heuristic is a cognitive bias that occurs while assessing the likelihood of an event by comparing its similarity to an existing mental prototype. Essentially, this bias involves comparing whatever we’re evaluating to a situation, prototype, or stereotype that we already have in mind. Our brains frequently weigh this comparison much more heavily than other relevant factors. This shortcut can be helpful in some cases, but it can also lead to errors in judgment and distorted thinking. [Read more…] about Representativeness Heuristic: Definition & Examples

Filed Under: Basics Tagged With: bias sources, conceptual

Joint Probability: Definition, Formula & Examples

By Jim Frost Leave a Comment

What is Joint Probability?

Joint probability is the likelihood that two or more events will coincide. Knowing how to calculate them allows you to solve problems such as the following. What is the probability of:

  • Getting two heads in two coin tosses?
  • Consecutively drawing two aces from a deck of cards?
  • The next customer being a woman who buys a Mac computer?
  • A bike rental customer getting both a flat front tire and a flat rear tire?

[Read more…] about Joint Probability: Definition, Formula & Examples

Filed Under: Probability Tagged With: analysis example, choosing analysis, conceptual

Ecological Validity: Definition & Why It Matters

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What is Ecological Validity?

Ecological validity refers to how accurately researchers can generalize a study’s findings to real-world situations. Simply put, it measures how closely an experiment reflects the behaviors and experiences of individuals in their natural environment. [Read more…] about Ecological Validity: Definition & Why It Matters

Filed Under: Basics Tagged With: conceptual, experimental design

Lurking Variable: Definition & Examples

By Jim Frost Leave a Comment

What is a Lurking Variable?

A lurking variable is a variable that researchers do not include in a statistical analysis, but it can still affect the outcome. These variables can create problems by biasing your statistical results in any of the following ways:

  • Magnify the real effect.
  • Weaken the appearance of the relationship.
  • Change the sign of a correlation.
  • Mask an effect that actually exists.
  • Create phantom correlations where none exist!

Learn more about Spurious Correlations. [Read more…] about Lurking Variable: Definition & Examples

Filed Under: Basics Tagged With: bias sources, conceptual, experimental design

Anchoring Bias: Definition & Examples

By Jim Frost Leave a Comment

What is Anchoring Bias?

Anchoring bias is a cognitive bias that causes people to rely too heavily on the first piece of information they receive when making a decision. That information is their “anchor,” and it affects how they make decisions. Even when presented with additional information, people tend to give too much weight to the original anchor, leading to distortions in judgment and decision-making. Inaccurate adjustments from an anchor value can cause people to make erroneous final decisions and estimates. [Read more…] about Anchoring Bias: Definition & Examples

Filed Under: Basics Tagged With: bias sources, conceptual

Independent Events: Definition & Probability

By Jim Frost Leave a Comment

What are Independent Events?

Independent events in statistics are those in which one event does not affect the next event. More specifically, the occurrence of one event does not affect the probability of the following event happening. [Read more…] about Independent Events: Definition & Probability

Filed Under: Probability Tagged With: analysis example, conceptual

Probability Sampling Overview

By Jim Frost Leave a Comment

What is Probability Sampling?

Probability sampling is the process of selecting a sample using random sampling. When you use this method, each individual or unit in a population has a known, non-zero chance of being randomly selected for the sample. Statisticians consider this method the most reliable because it tends to minimize sampling bias and produce samples that accurately represent the entire population. A representative sample allows you to use the sample to make inferences about the population. [Read more…] about Probability Sampling Overview

Filed Under: Basics Tagged With: experimental design, sampling methods

Self Serving Bias: Definition & Examples

By Jim Frost Leave a Comment

What is Self Serving Bias?

Self serving bias is a cognitive bias that refers to the tendency for individuals to take credit for their successes while blaming their failures on external factors. In other words, people tend to see themselves positively by attributing their accomplishments to their internal abilities and failures to things outside their control. [Read more…] about Self Serving Bias: Definition & Examples

Filed Under: Basics Tagged With: bias sources, conceptual

Hindsight Bias: Definition & Examples

By Jim Frost Leave a Comment

What is Hindsight Bias?

Hindsight bias is a cognitive bias that creates the tendency to perceive past events as being more predictable than they actually were. It is that sneaky feeling that you “knew it all along,” even when that’s not true. This tendency is rooted in our desire to believe that we are intelligent and capable decision-makers, and it can cause various distortions in our thinking. [Read more…] about Hindsight Bias: Definition & Examples

Filed Under: Basics Tagged With: bias sources, conceptual

Availability Heuristic: Definition & Examples

By Jim Frost Leave a Comment

What is the Availability Heuristic?

The availability heuristic is a cognitive bias that causes people to rely too heavily on easily accessible memories when estimating probabilities and making decisions. This mental shortcut can distort our perception of how frequently certain events occur. [Read more…] about Availability Heuristic: Definition & Examples

Filed Under: Basics Tagged With: bias sources, conceptual

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    Top Posts

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