Statistical Averages

Summary Statistics After the data have been properly checked for its quality, the first and foremost analysis is usually for the descriptive statistics. The general aim is to summarize the data, iron out any peculiarities and perhaps get ideas for a more sophisticated analysis. The data summary may help to suggest a suitable model which in turn suggests an appropriate inferential procedure. The first phase of the analysis will be described as the...

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Database Marketing

“Good information is essential for fact based decision – making”In the good old days, many “savvy” corporate CEOs and other assorted head honchos in the public and private sector routinely made critical decisions by the seat of their pants. They relied on their experience, their intuition and their “gut” to determine a course of action that could make or break the organization. Sometimes they were right, sometimes they were wrong, and sometimes the organization went down the drain. Today, more and more of these C-level decision-makers are turning...

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Interpretation of Correlation

Correlation refers to a technique used to measure the relationship between two or more variables.When two things are correlated, it means that they vary together.Positive correlation means that high scores on one are associated with high scores on the other, and that low scores on one are associated with low scores on the other. Negative correlation, on the other hand, means that high scores on the first thing are associated with low scores on the second. Negative correlation also means that low scores on the first are associated with high...

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