September 6th, 2018
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
August 13th, 2018
Probability is just the opposite of statistics and both have yin-yang relationship between them. In statistics, we try to infer possible causes that relate to the data whereas in case of probability the description of the causes are already given and we only have to predict the data. Probability gives ... read more
August 10th, 2018
Once we have collected data about a business process, the next step would be describe it properly so that it can be communicated effectively. In statistics, we often you descriptive statistics: central tendency, dispersion and shape, in order to perform this task. In this article we will specifically look at ... read more