1 Correlation Karl Pearson's and Spearman's Rank is equal to the sum of all the values in the data set

Correlation :- Karl Pearson's Coefficient of divided by the number of values in the data set.
Correlation is widely used mathematical method
wherein the numerical expression is used to
calculate the degree and direction of the Median:-
relationship between linear related variables. The median is the middle score for a set of data
Spearman rank correlation is a non-parametric test that has been arranged in order of magnitude. The
that is used to measure the degree of association median is less affected by outliers and skewed
between two variables. The Spearman rank data.
correlation test does not carry any assumptions Mode :-
about the distribution of the data and is the The mode is the most frequent score in our data
appropriate correlation analysis when the variables set. On a histogram it represents the highest bar in
are measured on a scale that is at least ordinal. a bar chart or histogram. You can, therefore,
sometimes consider the mode as being the most
popular option.

5 Fisher Index Number

• Fisher's method is a way of combining the
information in the p-values from different
statistical tests so as to form a single overall test:
2 Regression :-
this method requires that the individual test
Regression is a statistical method used in finance,
statistics (or, more immediately, their resulting p-
investing, and other disciplines that attempts to
values) should be statistically independent. •
determine the strength and character of the
Fisher's method is considered the most ideal
relationship between one dependent variable
because it uses both prices and quantities of base
(usually denoted by Y) and a series of other
and current period and is based on geometric
variables (known as independent variables).
mean.
3 Probability (Card & Ball Question) :-
6 Mean Deviation & Standard Deviation
• In our day to day life the "probability" or
• Mean Deviation
"chance" is very commonly used term. Sometimes,
• To understand the dispersion of data from a
we use to say "Probably it may rain tomorrow",
measure of central tendency, we can use mean
"Probably Mr. X may come for taking his class
deviation. It comes as an improvement over the
today", "Probably you are right". All these terms,
range. It basically measures the deviations from a
possibility and probability convey the same
value. This value is generally mean or median.
meaning. But in statistics probability has certain
Hence although mean deviation about mode can
special connotation unlike in Layman's view.
be calculated, mean deviation about mean and
4 Mean (Arithmetic):- median are frequently used.
The mean (or average) is the most popular and well
known measure of central tendency. It can be used
with both discrete and continuous data, although
its use is most often with continuous data (see our
Types of Variable guide for data types). The mean
• Standard Deviation 9 Skewness Meaning and Types :-
• As the name suggests, this quantity is a standard
• Skewness, in statistics, is the degree of distortion
measure of the deviation of the entire data in any
from the symmetrical bell curve, or normal
distribution. Usually represented by s or o. It uses
distribution, in a set of data. Skewness can be
the arithmetic mean of the distribution as the
negative, positive, zero or undefined. A normal
reference point and normalizes the deviation of all
distribution has a skew of zero, while a lognormal
the data values from this mean.
distribution, for example, would exhibit some
7 Application of Business Analytics :- degree of right-skew.
• Companies use Business Analytics (BA) to make • The three probability distributions depicted
data-driven decisions. The insight gained by BA below depict increasing levels of right (or positive)
enables these companies to automate and skewness. Distributions can also be left (negative)
optimize their business processes. In fact, data- skewed. Skewness is used along with kurtosis to
driven companies that utilize Business Analytics better judge the likelihood of events falling in the
achieve a competitive advantage because they are tails of a probability distribution.
able to use the insights to:
10 Central Tendency :-
• Conduct data mining (explore data to find new
• A measure of central tendency is a summary
patterns and relationships)
statistic that represents the center point or typical
• Complete statistical analysis and quantitative
value of a dataset. These measures indicate where
analysis to explain why certain results occur
most values in a distribution fall and are also
• Test previous decisions using A/B testing and
referred to as the central location of a distribution.
multivariate testing
You can think of it as the tendency of data to
• Make use of predictive modeling and predictive
cluster around a middle value. In statistics, the
analytics to forecast future results
three most common measures of central tendency
8 Decision Tree :- are the mean, median, and mode. Each of these
• Decision Tree may be understood as the logical measures calculates the location of the central
tree, is a range of conditions (premises) and actions point using a different method
(conclusions), which are depicted as nodes and the
branches of the tree which link the premises with
conclusions. It is a decision support tool, having a
tree-like representation of decisions and the
consequences thereof. It uses 'AND' and 'OR'
operators, to recreate the structure of if-then rules.
• Decision Node: Represented as square, wherein
different courses of action arise from decision node
in main branches.
• Chance Node: Symbolised as a circle, at the
terminal point of decision node, the chance node is
present, where they emerge as sub-branches.
These depict probabilities and outcomes.