Statistics

As someone who has worked in finance and data analysis for years, I find the geometric mean one of the most underappreciated yet powerful statistical tools. Unlike the arithmetic mean, which most people learn early on, the geometric mean provides a more accurate measure when dealing with multiplicative processes, such as investment returns, population growth, […]

Government actuaries play a crucial role in analyzing and managing financial risks within public sector organizations. This explanation aims to clarify their functions, significance, and provide examples relevant to learners of accounting and finance. What is a Government Actuary? A government actuary is a specialized professional who applies mathematical and statistical methods to assess financial

An index is a powerful tool used in finance and economics to measure and track changes in various parameters over time. Understanding what an index is and how it works is essential for anyone interested in analyzing financial markets, economic trends, or investment opportunities. What is an Index? An index is a statistical measure that

As someone who has spent years analyzing financial and accounting data, I know firsthand how critical accurate data collection is. Whether conducting surveys, audits, or market research, interviewer errors can distort findings and lead to costly decisions. In this article, I break down the most common mistakes in data collection, explain why they happen, and

Judgment sampling is a non-probability sampling technique where the researcher selects units to be sampled based on their own knowledge and judgment. This method relies on the expertise of the researcher to choose the most representative samples for the study. What is Judgment Sampling? Judgment sampling, also known as purposive or subjective sampling, is a

Linear programming (LP) is a mathematical technique used to optimize a given objective, such as maximizing profit or minimizing cost, subject to certain constraints. It is widely used in economics, business, engineering, and other fields to make the best possible decisions in situations where resources are limited. In this article, I will guide you through

As someone who has spent years analyzing financial trends and accounting data, I recognize the power of longitudinal studies in uncovering patterns over time. Whether tracking stock market fluctuations, consumer spending habits, or corporate financial health, longitudinal research designs provide insights that cross-sectional studies simply cannot match. In this guide, I break down the fundamentals

Introduction When I first analyzed stock market returns, I needed a way to measure how much investments typically deviate from their average performance. Standard deviation seemed complex, so I discovered a simpler alternative: mean absolute deviation (MAD). This straightforward measure tells me how spread out data points are from their average value, without squaring differences

Introduction When I first started analyzing financial data, I needed a straightforward way to understand how numbers varied from their average. That’s when I discovered mean deviation – a concept that changed how I viewed data analysis. Unlike more complex measures, mean deviation gives me an intuitive sense of variability without advanced mathematics. What Exactly

As someone who has spent years analyzing financial data, I often encounter confusion around the concept of mean price. Many assume it’s just a simple average, but its applications in finance, economics, and everyday decision-making run much deeper. In this article, I break down what mean price is, why it matters, and how you can