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Welcome to Helpful Stats!

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What is Linear Correlation?

The analysis of correlation is an extremely useful technique in business. Naturally, correlations are extremely popular in various analyses. Correlation is measured by a coefficient that is a statistical estimation of the strength of relationship between data. The...

Building Linear Regression Models

What is regression? In the dictionary, the word regression basically means 'to go back'. In terms of statistics too, the meaning is not too different - it means 'to go back to the past data to explain the process that generates the data'. In statistics, a model is a...

How to Compute the Measures of Dispersion using Microsoft Excel

Calculating Range in Excel Excel does not offer a function to compute range. However, we can easily compute it by subtracting the minimum value from the maximum value. The formula would be =MAX()-MIN() where the dataset would be the referenced in both the parentheses....

Measuring the Spread of Data

We have already seen how it is easier to describe data using a single measure of central tendency, such as, average. Now, take a look at the following data: The average score for both students is equal. However, John is consistent at everything, while Arun is...

Building a Multiple Linear Regression Model

Previously, we have seen situations where an outcome (the dependent variable) is based on a single input variable (independent variable). Sadly, real life is rarely as simple. Most outcomes in real situations are affected by multiple input variables. To...

The Basics

Statistics Stuff

Creating Models with Data