I've become alarmed recently at the number of young engineers (i.e. those with less than 5 years of work experience), who seem to have missed the college course on applied probability and don't know ...

Business, like many other fields, can benefit from the use of statistics in estimating or predicting future events. An important tool for business statistics is a confidence interval, which helps a ...

Confidence Interval Estimate: a range of values so constructed that a specified proportion of the intervals costructed that way would contain the true value of a parameter. Critical Value: a point on ...

Third in the series: Nobody becomes a Psych major to study statistics The science of uncertainty. Statistics – much to the regret of many potential psych majors – is the core methodology that links ...

In statistics, p̂ represents the sample proportion or the estimated proportion of a population that possesses a certain characteristic or attribute. It's a point estimate derived from sample data used ...

Sometimes it’s hard to have confidence in science. So many results from published scientific studies turn out to be wrong. Part of the problem is that science has trouble quantifying just how ...

Third in the series: Nobody becomes a Psych major to study statistics The science of uncertainty. Statistics – much to the regret of many potential psych majors – is the core methodology that links ...