statistics

Statistics

Basic Graphical Plots Series: Scatter Plot Overview

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Basic Graphical Plot Series: A Scatter Plot Overview A Scatter Plot is among one of the “7 tools of quality” (which i will cover in a separate blog sometime), the “Scatter Plot” (or Scatter Chart or Scatter Diagram) is a visual mechanism to identify/depict any relationship between two quantitative variables (or datasets/samples) that can be …

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Approximating Binomial Distributions with Poisson Distributions

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Approximating Binomial Distributions with Poisson Distributions: The “law of rare events” or “Poisson limit theorem”, in layman’s terms states that where the independent events have a very low i.e., “rare” probability and number of trials are very large, the Binomial Distributions can be modeled by Poisson Distributions. This was done after Poisson’s work which generalized …

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