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Commerce / Statistics for Economics

Statistics for Economics

135+ posts

Binomial Distribution in Business Statistics - Definition, Formula & Examples

Last Updated: 09 November 2023

What is Binomial Distribution?Binomial Distribution is a probability distribution that models the number of successes in a fixed number of independent, identical trials, w...read more

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Statistics for Economics

Geeks Premier League 2023

Business Statistics

Probability Distribution

Types of Statistical Data

Last Updated: 25 July 2024

What is Statistical Data?Statistical data refers to the collection of quantitative information or facts that have been systematically gathered, organised, and analysed. Th...read more

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Statistics for Economics

Geeks Premier League 2023

Business Statistics

Combined Mean | Formula and Examples

Last Updated: 13 October 2023

What is Combined Mean?When two or more series having different arithmetic means and number of items are combined together, the combined mean of all the series can be calcu...read more

Statistics for Economics

Commerce - 11th

Bernoulli Distribution in Business Statistics - Mean and Variance

Last Updated: 02 August 2024

What is Bernoulli Distribution?Bernoulli Distribution is defined as a fundamental tool for calculating probabilities in scenarios where only two choices are present (i.e. ...read more

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Statistics for Economics

Geeks Premier League 2023

Business Statistics

Probability Distribution

Lognormal Distribution in Business Statistics

Last Updated: 20 November 2023

In business statistics, Lognormal Distribution is a crucial probability distribution model as it characterises data with positive values that show right-skewed patterns, w...read more

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Statistics for Economics

Geeks Premier League 2023

Business Statistics

Gamma Distribution in Statistics

Last Updated: 19 September 2024

Gamma distribution is a type of probability distribution that is defined for non-negative real numbers and is used to model the waiting time until a specific event occurs ...read more

Statistics for Economics

Business Statistics

Normal Distribution in Business Statistics

Last Updated: 13 November 2023

What is Normal Distribution?Normal Distribution is defined as the probability distribution that tends to be symmetric about the mean; i.e., data near the mean occurs more ...read more

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Statistics for Economics

Geeks Premier League 2023

Business Statistics

Probability Distribution

Poisson Distribution : Meaning, Characteristics, Shape, Mean and Variance

Last Updated: 29 July 2024

What is Poisson Distribution?Poisson distribution describes the likelihood of a certain number of events occurring within a given time frame. It applies to situations wher...read more

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Statistics for Economics

Geeks Premier League 2023

Business Statistics

Negative Binomial Distribution : Properties, Applications and Examples

Last Updated: 13 December 2023

What is Negative Binomial Distribution?The Negative Binomial Distribution deals with the number of trials needed to achieve a specific number of successes. It helps determ...read more

Statistics for Economics

Geeks Premier League 2023

Business Statistics

Systematic Sampling : Meaning, Types, Advantages and Disadvantages

Last Updated: 23 February 2024

What is Systematic Sampling?Systematic Sampling is a probability sampling approach that selects sample members from a larger population at random but with a fixed, periodi...read more

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Statistics for Economics

Geeks Premier League 2023

Difference between Graphs and Charts

Last Updated: 08 April 2024

Graphs and Charts are both visual representations of data, but they serve slightly different purposes and are used in different contexts. Graphs are more about exploring r...read more

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Statistics for Economics

Commerce - Difference Between

Econometrics : Meaning, Examples, Theory and Methods

Last Updated: 15 April 2024

What is Econometrics?Econometrics is a branch of economics that applies statistical methods and mathematical models to analyze economic data. It combines economic theory, ...read more

Statistics for Economics

Managerial Economics

Why hypothesis testing is important in research ?

Last Updated: 21 August 2024

Hypothesis Testing allows researchers to evaluate the validity of their assumptions and draw conclusions based on evidence. It provides a framework for making predictions ...read more

Statistics for Economics

Machine Learning Blogs

Types of Graphs in Statistics

Last Updated: 20 February 2025

Graphs in statistics serve as powerful tools for visually representing data, making it easier to interpret, compare, and analyze trends. These graphical representations he...read more

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Statistics for Economics

Hazard Function - an overview

Last Updated: 09 April 2025

Hazard function estimates the probability that an item will fail during a specific time interval, based on its survival until the previous moment. In simple terms, it refl...read more

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Statistics for Economics

AI-ML-DS With Python

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