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In recent years, we have seen a sudden increase in commercial applications in machine learning and AI. Machine learning models heavily rely on data. Therefore, data scientists have invented new methods of data collection. Some of these data collection methods did not exist before the rise of the digital revolution. ... read more

Bar chart and histogram chart both use vertical bars and both are used to aggregate data. The main difference between them is that the bar chart is defined over 2D data - one dimension applies to x-axis and the other to y-axis. On the other hand, histogram is only apply ... read more

Assigning of numbers to observations, and sometime scaling them as well, is known as measurement. Scale of measurement also defines what type of random variable we are dealing with. In the following, we will briefly discuss four important scales of measurements: 1. Nominal Scale Nominal scale allows us classify observations into ... read more

Index number is a statistical measure of average change in a variable or a group of variables with respect to time or space. The variable may be the enrolment of staff in an organization, the cost of salaries for staff, prices of a particular commodity or a group of commodities, ... read more

A circular statistical image divided into sections to illustrate the numerical ratio is known as a pie chart. In a pie chart, the arc length of each segment is similar to the ratio of the quantity that it shows. In statistics, pie charts are used to visualize data, specifically the ... read more