[vsw id=”alD9eAT2lQU” source=”youtube” width=”611″ height=”344″ autoplay=”no”] 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….

[vsw id=”alD9eAT2lQU” source=”youtube” width=”611″ height=”344″ autoplay=”no”] 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…

[vsw id=”alD9eAT2lQU” source=”youtube” width=”611″ height=”344″ autoplay=”no”] Kurtosis refers to measuring the degree to which a given distribution is more or less ‘peaked’ relative to the normal distribution. The concept of kurtosis is very useful in decision-making.  In this regard, we…

[vsw id=”alD9eAT2lQU” source=”youtube” width=”611″ height=”344″ autoplay=”no”] Both arithmetic return and geometric return are methods commonly used to calculate the yield on a given investment. However, the return that really matters is the geometric return, not the arithmetic return. A good…

[vsw id=”hu47ZbsskEw” source=”youtube” width=”611″ height=”344″ autoplay=”no”] Probability is a measure of the likelihood that something will happen. We usually express probabilities as percentages, from 0 (impossible to happen) to 100% (guaranteed). In fact, we can express almost any event as…

[vsw id=”hu47ZbsskEw” source=”youtube” width=”611″ height=”344″ autoplay=”no”] Defining properties of a probability refer to the rules that constitute any given probability. They are outlined below.

[vsw id=”hu47ZbsskEw” source=”youtube” width=”611″ height=”344″ autoplay=”no”] Odds for and against an event represent a ratio of the desired outcomes versus the field. In other words, the odds for an event refer to the ratio of the number of ways the…