Statistics for Buiness Intelligence – Chi Square Tests

Chi square tests, namely chi-square goodness of fit test and chi-square test of independence, are used to analyse data that are a frequency distribution of discrete variables. Consider for example, a wine cellar that has four different categories of wine, a frequency distribution of the four varieties of wine can be analysed by such tests.Chi-Square … Read more

statistics for business intelligence – ANOVA

Design of experiments : An experimental design is used to test a hypothesis by modifying one or more variables. The variables may be dependent or independent. Independent variables may be a treatment variable (can be modified) or classification variable (characteristic of the experimental factors, present prior to the experiment and is not modified during the … Read more

Statistics for Business Intelligence – Hypothesis testing

Hypothesis is defined in dictionary.com as ‘a proposition assumed as a premise in an argument’. This post explores the various kinds of hypothesis in statistics and methods to test them. Research hypothesis : A statement that is considered the outcome of an experiment or test, before the experiment is undertaken.Statistical hypothesis : This is used … Read more

Statistics for Business Intelligence – Sampling

It is necessary to understand sampling techniques before data for a sample is gathered for analysis. Some of the terms that are important arePopulation – This is the complete set under consideration. For example a survey of food choices for a country might consider all citizens of the country.Frame – frame is the population where … Read more

Statistics for Business Intelligence – Shape

In this post i will discuss the measures of shape used for statistical analysis, specifically skewness and kurtosis. I will also discuss the box and whisker plot. Skewness – A normal distribution is a bell curve that is perfectly symmetric. perfect symmetry implies that the values are distributed equally around the center. a graph is … Read more

Statistics for Business Intelligence – Introduction

An understanding of Statistics is imperative before delving into the tools and methods of business intelligence and analysis. We will spend some time on understanding the basics of Statistics for data analysis and in subsequent posts try to give more detailed explanation of the various methods involved.Statistics for data analysis can be broadly divided into … Read more