Types of Data Analysis

Analysis involves estimating the values of unknown parameters of the population and testing hypothesis for drawing inferences. Types of Analysis a. Qualitative analysis b. Content analysis c. Quantitative analysis d. Descriptive analysis e. Bivariate analysis f. Sequential analysis g. Casual analysis h. Multivariate analysis i. Inferential analysis j. Statistical analysis Qualitative Analysis It is less […]

Important properties of the Normal distribution

The normal distribution was first described by Abraham Demoivre (1667-1754) as the limiting form of binomial model in 1733. Normal distribution was rediscovered by Gauss in 1809 and by Laplace in 1812. Both Gauss and Laplace were led to the distribution by their work on the theory of errors of observations arising in physical measuring […]

Multivariate normality Tests with R – Mardia’s Test, Henze-Zirkler, Royston

Most multivariate techniques, such as Linear Discriminant Analysis (LDA), Factor Analysis, MANOVA and Multivariate Regression are based on an assumption of multivariate normality. So, In this post, I am going to show you how you can assess the multivariate normality for the variables in your sample. The above test multivariate techniques can be used in […]

Measurement Scales–Nominal, Ordinal, Interval and Ratio

Measurement scales are classified popularly under four categories: Nominal, Ordinal, Interval, Ratio. Let’s discuss in brief about these measurement scales before going on for some technical details. If you want to test Network of 50 smart phone users. Let’s begins by evaluating each on 4G – Non 4G data; this is a nominal measurement. Then […]

Measures of Location–Mean and Median

Measures of location are used in order to determine where the data distribution is concentrated. The most usual measures of location are Mean and Median Mean The mean of a set of numerical observations is just the familiar arithmetic average. The sum of the observations divided by the number of observations gives you Arithmetic Mean. […]

Common symbols used in statistical tests

Each statistical tests or methods has its own terminology and symbols, but the following are commonly used by all statisticians / researchers N – Size of population n – number of observations (sample size) K – number of samples (each having n elements) α (Alpha) – level of significance v (Nu)- degrees of freedom σ […]

What’s new in Gretl2017a

Gretl is a free and open source package for econometric analysis on 15-04-2017 updated version gretl2017a was released. The following are the new features, bug fixes and change log of new version. Improved parsing for the member-of relation, on both the left- and right-hand side of hansl statements Calendar: ensure that the Gregorian calendar is […]

Rate of Return formula for any asset

The actual profit or loss is measured through the returns achieved from particular investments. Let the investment be in Risky securities ( Stocks, Gold, Oil, commodities , ETF, etc..,) or Risk free securities ( Bonds, fixed deposits, etc..,) . The above shown formula is used to understand the level or rate of return achieved. […]

PSPP : Free alternative for SPSS

Data analysis software SPSS is very popular among social science researchers. It provides various modules for the analysts but the problem is it comes with a big price tag. From Descriptive statistics to complex sampling, bootstrapping, SEM IBM offers pay per person per year plan this means your licence for using the software is valid […]