Yield conversion is basically the process of changing from one type of yield to the other. We have already established the 4 main types of yields and their formulae – rBD, HPY, EAY, and rMM. Given any one of these…

Statistics refers to concepts, rules, and procedures that help us interpret data and make informed decisions regarding issues affecting our lives and humanity in general. Data is basically facts or observations that result from an investigation. Statistics is a wide…

A parameter refers to a measure that is used to describe the characteristic of a population.  It is a numerical quantity that describes a given aspect of the population as a whole. You should note that we are referring to…

Measures of central tendency are values that tend to occur at the center of a well-ordered data set. As such, some analysts call them measures of central location. Mean, median, and mode are all measures of central tendency. Even then,…

Quartiles, quintiles, deciles, and percentiles are values or cut points that partition a finite number of observations into nearly equal-sized subsets. The number of partitions depends on the type of cut point involved.

Measures of dispersion are used to describe the variability or spread in a sample or population. They are usually used in conjunction with measures of central tendency such as the mean and the median. These are the range, variance, absolute…

Skewness refers to the degree of deviation from a symmetrical distribution, such as the normal distribution. A symmetrical distribution has identical shapes on either side of the mean. Distributions that are asymmetrical have unequal shapes on either side of the…