The normal distribution and t-distribution are two of the most commonly used probability distributions in statistics. They are used to model the distribution of continuous variables, such as heights, weights, and test scores, and are […]
The Black-Scholes model is a mathematical formula used to estimate the price of European-style options, which are financial contracts that give the holder the right, but not the obligation, to buy or sell an underlying […]
Chebyshev’s inequality is a statistical theorem that provides a bound on the probability that a random variable deviates from its mean by more than a certain number of standard deviations. Specifically, it states that for […]
Skewed Q-Q plots are a useful visualization tool for data scientists when they are dealing with non-normal distributions. In real life, data scientists use skewed Q-Q plots to perform the following tasks: Overall, skewed Q-Q […]
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