data analysis

The aim of factor analysis is to explain as much of the variation as possible with as few variables as possible.

The power of a test is the probability of detecting a statistically significant effect when one actually occurs in the population under study.

Kurtosis and skewness are measures of asymmetry that describe such properties as the shape and asymmetry of the distribution under analysis. They provide us with information on...

We use quantiles to determine the position of a given value against others in a group or population. Let's say you have received the results of your matriculation exams in...

The Student's t-test group is used to compare two groups of results, measured by the arithmetic mean, against each other.

The chi-square test of independence is one of the most popular statistical tests. It is used to check whether there is a statistically significant relationship between two...

The area of reliability analysis is of interest first of all to those who plan to use scales and indices in their studies, namely more complex indicators than a single survey...

Humans presented data in tabular format already in the ancient times. Thus, sometimes we can be deluded that structuring and reading tables is intuitive and does not require...

A waterfall graph, otherwise known as a cascade chart, may mean very little to those of us from outside the financial services industry.

In today's post we will combine the classic (and timeless) with the modern (but not worse).