In this article we will discuss about Median:- 1. Meaning of Median 2. Methods of Determining Median 3. Merits 4. Demerits. Meaning of Median: When the values of all items of a series are arranged in increasing (ascending) or decreasing (descending) order it is usually called an array and the middle item of an array is called median. The median [...]
In this article we will discuss about meaning and methods of calculation of Standard Deviation. Meaning of Standard Deviation: The best and most important measure of dispersion is standard deviation which was first worked out by Karl Pearson (1833). It is the positive square root of mean of deviations of individual values of a data series from the arithmetic mean [...]
The below mentioned article provides an overview on Probability:- 1. Introduction to Probability 2. Mathematical Probability and Statistical Probability 3. Rules or Theorems of Probability 4. Probability Distribution. Introduction to Probability: Probability means possibility or likelihood for the occurrence of a specific event, as for example, the likelihood of winning the cricket match. If several events are taking place, the [...]