Statistics is a branch of math that involves the collection, description, analysis, and inference of conclusions from quantitative data. But what is a statistic? Let’s find out. The word statistic is ...

In genetic analysis, there are often competing explanations for the same data. Sophisticated mathematical models have been developed that can encapsulate these problems in terms of parameters that ...

Imagine we had a question: “Do men and women differ on X?” No matter what “X” is—height, empathy, knowledge of 13 th century Spanish history, or anything else—we know that any given man will be ...

Sufficiency has long been regarded as the primary reduction procedure to simplify a statistical model, and the assessment of the procedure involves an implicit global repeated sampling principle. By ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Forbes contributors publish independent expert analyses and insights. Writes about the future of finance and technology, follow for more. It's easy to forget that beneath the surface of every smart ...