A chi-square (χ2) statistic is a test that is used to measure how expectations compare to actual observed data or model ...

What is a one sample t test? The t test is a commonly used hypothesis test in statistics that allows us to compare the mean value of a group of sampled data with some hypothesized value, usually a ...

Statistical significance is a critical concept in data analysis and research. In essence, it’s a measure that allows researchers to assess whether the results of an experiment or study are due to ...

Having data is only half the battle. How do you know your data actually means something? With some simple Python code, you can quickly check if differences in data are actually significant. In ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

What is the Friedman test? The Friedman test, also sometimes referred to as Friedman’s two-way analysis of variance by ranks, is a non-parametric statistical test used to investigate whether groups of ...

THE method described below gives a useful criterion of the significance of the difference between an observed and a hypothetical frequency distribution. Since it provides an exact test, it is ...

A depth-based rank sum statistic for multivariate data introduced by Liu and Singh [J. Amer. Statist. Assoc. 88 (1993) 252-260] as an extension of the Wilcoxon rank sum statistic for univariate data ...