Business Statistics

A difficult term to pronounce is heteroskedasticity (or heteroscedasticity), but it doesn’t need to be a difficult definition to understand. It occurs when there are…

A bernoulli distribution is a discrete distribution of probability for a random experiment that has only two effects (usually called a “success” or a “failure”)…

In an experiment or survey that is replicated several times, a binomial distribution can be thought of as simply the likelihood of a SUCCESS or…

We should have a greater understanding as business people of why trademarks are so critical for a successful trade. A trademark is a recognizable insignia,…

Compensation of Employees is the total amount an employee can expect to receive when working for an organization. It refers basically to the total gross…

This article describe about Nonprobability Sampling, which is a type of unit sampling where it is not known which of the units will be picked…

Multistage Sampling is a complex form of cluster sampling. It is the probability sampling technique wherein the sampling is carried out in several stages such…

Cluster Sampling is a type of sampling method, which is a technique that generates statistics about certain populations. It is often used in marketing research.…

This article talks about Stratified Sampling, which is a method of variance reduction when Monte Carlo methods are used to estimate population statistics from a…

Survey Methodology is the study of survey methods and the sources of error in surveys. It includes instruments or procedures that ask one or more…

Systematic Sampling is typically involves first selecting a fixed starting point in the larger population and then obtaining subsequent observations by using a constant interval…

Simple Random Sample is chosen in such a way that every set of individuals has an equal chance to be in the selected sample. In…