Coefficient

What is Range?Range is the easiest to understand of all the measures of dispersion. The difference between the largest and smallest item in a distribution is called range. It can be written as:Range (R) = Largest item (L) – Smallest item (S)For example, If the marks of 5 students of class XIth are 20, 15, 18, 14, 17. After arranging the marks in ascending (or descending) order, the difference between the highest and lowest scores will be the range of marks. Therefore, the range in this case will be 20 – 14 = 6.The range,…

Aptera’s “Gamma” prototype of its solar-powered, three-wheeled electric car is overseas right now, doing aerodynamic testing at Pininfarina’s wind tunnel near Turin, Italy, in the shadow of the Italian Alps. The company is confident that when results come in, the Aptera will have the lowest aerodynamic drag coefficient of any production passenger car. Pininfarina’s wind tunnel was opened in 1972, one of the first full-size wind tunnels in the world to be completed and the first in Italy.…

Range is the easiest to understand of all the measures of dispersion. The difference between the largest and smallest item in a distribution is called range. It can be written as:Range (R) = Largest item (L) – Smallest item (S)For example, If the marks of 5 students of class Xth are 10, 5, 8, 4, 7. After arranging the marks in ascending (or descending) order, the difference between the highest and lowest scores will be the range of marks. Therefore, the range in this case will be 10 – 4 = 6.The range which is expressed in…

STATISTICSInterpreting correlation is far more difficult than most people think. Misinterpreting it, on the other hand, is not.Perfect correlation! Photo by Matt Seymour on UnsplashCorrelation… Who has not heard about correlation? We use this term so often and yet we don’t know too much about it. When you say, “These two things are correlated,” what do you actually mean? Or what do you mean when you say that the correlation between two things is strong?For data scientists and statisticians, correlation is even more…

A statistical tool that helps in the study of the relationship between two variables is known as Correlation. It also helps in understanding the economic behaviour of the variables. However, correlation does not tell anything about the cause-and-effect relationship between the two variables. Correlation can be measured through three different methods; viz., Scatter Diagram, Karl Pearson’s Coefficient of Correlation, and Spearman’s Rank Correlation Coefficient. According to L.R. Connor, “If two or more quantities vary in…

A statistical tool that helps in the study of the relationship between two variables is known as Correlation. It also helps in understanding the economic behaviour of the variables. However, correlation does not tell anything about the cause-and-effect relationship between the two variables. Correlation can be measured through three different methods; viz., Scatter Diagram, Karl Pearson’s Coefficient of Correlation, and Spearman’s Rank Correlation Coefficient. According to L.R. Connor, “If two or more quantities vary in…

The methods of measuring dispersion such as quartile deviation, range, mean deviation, etc., are not universally adopted as they do not provide much accuracy. Range does not provide required satisfaction as in the entire group, range’s magnitude is determined by most extreme cases. Quartile Deviation does not have algebraic properties and it is also difficult to interpret it. However, Mean Deviation ignores the deviation’s algebraic signs making it unsatisfactory. All these issues increased the need for a measure of…

As Standard Deviation is an absolute measure of dispersion, one cannot use it for comparing the variability of two or more series when they are expressed in different units. Therefore, in order to compare the variability of two or more series with different units it is essential to determine the relative measure of Standard Deviation. Two of the relative measures of Standard Deviation are Coefficient of Standard Deviation and Coefficient of Variation.What is Coefficient of Variation?It is a relative measure introduced by…

source. Just as the world was turning to the crisp fall of 2022, one of the largest functional blockchains went down.This wasn’t the first time either — Solana has had its fair share of downtime over the years, particularly this year.The worrying aspect was: it was due to a single node misconfiguration — one that took out the chain for a whole 6 hours. As one can imagine, for a financial crypto giant, this is a big deal.For a protocol that popularized and has a respectable Nakamoto Coefficient score, it brings to light…

The Categorical Prediction CoefficientPhoto by Joan Gamell on Unsplash(All images unless otherwise noted are by the author.)IntroductionThe most common reason for wanting to know the correlation between variables is to develop predictive models. The higher the correlation of an input variable with the outcome variable, the better predictor variable it will be. But checking the correlations between input variables is also important. It’s necessary to remove multicollinearity from the model, which can degrade the legitimacy…