Articles
Types of Markets in Economics
There are two types of markets where factors of production (such as land, labor, and capital) and products are bought a...
Non-parametric Tests
In parametric tests we make assumptions about the distribution of the population and each parametric test is specific t...
F-test - Test for the Differences Between Two Population Var...
The tests concerning the differences between two population variances are called F-test. We are testing the equality of...
Chi-square Test – Test for value of a single population vari...
The tests concerning the value of a population variance of a normally distributed population are called Chi-square test...
Hypothesis Tests Concerning Variances
Till now the tests we saw were related to population mean. We can also conduct hypothesis tests concerning the variance...
Paired Comparision Tests - Mean Differences When Populations...
In the above cases, we assumed that the samples are independent. However, sometimes the samples may not be independent....
Tests Concerning Differences in Means
Sometimes we want to test if the mean values differ between two populations. We can assume that the two populations are...
Hypothesis Testing with z-statistic
z-statistic is the computed value of the test statistic based on the standard normal distribution. z-statistic with ...
Hypothesis Testing with t-statistic
t-statistic is the computed value of the test statistic based on the Student’s t distribution. t-statistic with n-1 ...
Selecting the Appropriate Test Statistic
You can identify the appropriate test statistic for your data as follows:
p-Value in Hypothesis Testing
The p-value is the probability, computed using the test statistic, that measures the support (or lack of support) provi...
Historical Simulation Vs Monte Carlo Simulation
The fundamental assumption of the Historical Simulations methodology is that you base your results on the past performa...
Relative Locations of Mean, Median and Mode
The skewness of a distribution can have an impact on the location of mean, median and mode. The relative locations o...
Skewness and Kurtosis
We say that a distribution is symmetric, if it is equally balanced on both sides of the mean. This means that the frequ...
Ethical Decision Making Frameworks
Professionals have busy days and to make sure they maintain ethical behavior, a framework for making ethical decisions ...
Ethical vs. Legal Standards
Laws codify ethical action. However, all ethical behavior may not be legal. For instance, citizens may protest an unfai...
Importance of Ethical Behavior in the Investment Industry
Approving home loans to customers without a proper appraisal to meet loan targets ended up snowballing into a financial...
Ethics and Professionalism
What is a profession? The CFA handbook describes it as. based on specialized knowledge and skills. based on se...
What is Ethics in Business?
Ethics is not a subject of moral discussions alone, but one that has implications in how businesses are run. Unethical ...
How to Improve your Financial Health
Most of us are living on borrowed money. In the US, as per Experian, credit card debt is $829 billion and personal loan...
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