The arithmetic mean, commonly referred to as the mean, is a measure of central tendency that represents the average value of a dataset. It is calculated by summing all the values in the dataset and then dividing by the number of values. For example, in the dataset [2, 4, 6, […]
Regression is a statistical method used to analyse the relationship between two or more variables. It helps determine how the dependent variable changes when one or more independent variables are modified. The most common form is linear regression, where the relationship is modelled with a straight line (y = mx […]
Standard deviation is a statistical measure that quantifies the amount of variation or dispersion in a set of data values. It indicates how much individual data points differ from the mean (average) of the dataset. A low standard deviation means that the data points are close to the mean, while […]
The median is a statistical measure that represents the middle value in a data set when the values are arranged in ascending or descending order. If the data set has an odd number of observations, the median is the single middle value. If the data set has an even number […]
Conditional probability is the probability of an event occurring given that another event has already occurred. It quantifies how the likelihood of one event changes when we know that another event is true. Mathematically, the conditional probability of event A given event B is expressed as P(A|B) = P(A ∩ […]