Hypothesis tests are normally done for one and two samples. For one sample, researchers are often interested in whether a population characteristic such as the

A time series is an assemblage of data recorded over a period of time whether it is weekly, monthly, quarterly, or yearly. A time series

Linear programming is a mathematical procedure to find out best solutions to problems that can be stated using linear equations and inequalities. If a real-world

Decision theory is a principle associated with decisions. Contemporary decision theory was developed in the mid of the 20th century with the support of several

Sampling distribution or finite-sample distribution is the probability distribution of a given statistic based on a random sample. Sampling distributions are vital in statistics because

The Central Limit Theorem has great significance in inferential statistics. This theorem was evolved by Abraham de Moivre, a French-born mathematician who used the normal

Index numbers are intended to measure the degree of economic changes over time. These numbers are values stated as a percentage of a single base

Probability is associated with randomness and uncertainty. It is a mathematical field which is similar to geometry and analytical mechanics. Academicians explained probability as the

The statistical procedures are suitable only for numerical variables. The chi square distribution is a theoretical or mathematical distribution which is extensively applicable in statistical

What is inferential statistics? Inferential statistics is used to analyse the results and draw conclusions. Experts described inferential statistics as the mathematics and logic of

Statistics is a branch of math that is used to analyse, interpret, and predict outcomes from data. Descriptive statistics explain the basic concepts used to