Welcome to On Statistics
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How to Use the Poisson Distribution in Python
What is the Poisson Distribution? The Poisson distribution is a discrete probability distribution that models the probability of a given number of events occurring in a fixed interval of time or space, given the average rate of occurrence of the events. It is often used when the number of occurrences is small and the events…
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How to Calculate Gini Coefficient in Python
The Gini coefficient is a statistical measure of inequality, most commonly used to evaluate income or wealth distribution. It is named after the Italian statistician Corrado Gini, who introduced the index in 1912. The Gini coefficient ranges from 0 to 1, where 0 represents perfect equality (everyone has the same income or wealth), and 1…
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How to Use the Multinomial Distribution in Python
The multinomial distribution is a multivariate extension of the binomial distribution, which models the probability of observing k successes and (n-k) failures in n independent Bernoulli trials. In other words, it models the probability distribution of multiple categories or outcomes in a single experiment or trial. This concept is widely used in various statistical analyses,…
