Tag Archives: descriptive statistics

Applied Statistics – What is P-Value? – Understanding the meaning, math and methods

What is P-Value? – Understanding the meaning, math and methods   P Value is a probability score that is used in statistical tests to establish the statistical significance of an observed effect. Though p-values are commonly used, the definition and meaning is often not very clear even to experienced Statisticians and Data Scientists. In this …

Statistics for Beginners in Excel – Distribution Property Functions using Real Statistics

(Basic Statistics for Citizen Data Scientist) Distribution Property Functions In the descriptions of the distributions described throughout the website, we have provided formulas for the distribution mean and variance. Real Statistics provides the following functions to carry out these calculations. Real Statistics Functions: The Real Statistics Resource Pack contains the following functions. MEAN_DIST(dist, param1, param2, …

Statistics for Beginners in Excel – Laplace Distribution

(Basic Statistics for Citizen Data Scientist) Laplace Distribution The pdf of the Laplace distribution (aka the double exponential distribution) with location parameter μ and scale parameter β is where β > 0. The cdf is The inverse of the Laplace distribution is Key statistical properties of the Laplace distribution are shown in Figure 1.   Figure 1 – Statistical properties of …

Statistics for Beginners in Excel – Gumbel Distribution

(Basic Statistics for Citizen Data Scientist) Gumbel Distribution The Gumbel distribution is used to model the largest value from a relatively large set of independent elements from distributions whose tails decay relatively fast, such as a normal or exponential distribution. As a result, it can be used to analyze annual maximum daily rainfall volumes. In …

Statistics for Beginners in Excel – Logistic Distribution

(Basic Statistics for Citizen Data Scientist) Logistic Distribution The pdf of the Logistic distribution at location parameter µ and scale parameter β is where β > 0. The cdf is The inverse of the logistic distribution is The standard Gumbel distribution is the case where μ = 0 and β = 1. Key statistical properties of the Logistic distribution are shown in Figure 1.   …