Related Concept Videos

Pie Chart01:04

Pie Chart

A pie chart (or a pie graph) is a circular graphical chart or a pictorial representation of categorical data. It is divided into slices of pie each indicating numerical proportions. It is also used to show the relative sizes of data in a single chart.
In a pie chart, the central angle, the arc length of each slice, and the area are directly proportional to the quantity or percentage it represents. Some real-world examples that can be depicted using pie charts include marks obtained by students...
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Vaccinations01:51

Vaccinations

Overview
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Unrealistic Optimism Bias01:30

Unrealistic Optimism Bias

Unrealistic optimism bias is the tendency to overestimate the likelihood of positive outcomes. This cognitive bias makes individuals believe they are less likely to experience failures, setbacks, or risks and more likely to succeed than others. For example, people may assume they are less prone to health issues, accidents, or financial struggles than their peers, even when they share similar risk factors.One key component of this bias is the above-average effect, where individuals perceive...
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Pareto Chart00:52

Pareto Chart

A Pareto chart is a bar graph or a combination of both line and bar graphs. The bar lengths represent the individual values or the frequency, while the lines represent the cumulative total values. In this chart, the longest bars are arranged on the left and the shortest bars on the right, which makes it easier to read and interpret the data. It can also be called a Pareto diagram or Pareto analysis.
The Pareto chart is named after the Italian economist Vilfredo Pareto, who described the Pareto...
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Regression Toward the Mean01:52

Regression Toward the Mean

Regression toward the mean (“RTM”) is a phenomenon in which extremely high or low values—for example, and individual’s blood pressure at a particular moment—appear closer to a group’s average upon remeasuring. Although this statistical peculiarity is the result of random error and chance, it has been problematic across various medical, scientific, financial and psychological applications. In particular, RTM, if not taken into account, can interfere when...
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Normal Distribution01:11

Normal Distribution

The normal, a continuous distribution, is the most important of all the distributions. Its graph is a bell-shaped symmetrical curve, which is observed in almost all disciplines. Some of these include psychology, business, economics, the sciences, nursing, and, of course, mathematics. Some instructors may use the normal distribution to help determine students’ grades. Most IQ scores are normally distributed. Often real-estate prices fit a normal distribution. The normal distribution is...
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