In particular, it measures the degree of dispersion of data around the sample's mean. Investors use variance to see how much risk an investment carries and whether it will be profitable.

The purpose of the Institute of Mathematical Statistics (IMS) is to foster the development and dissemination of the theory and applications of statistics and probability. The Institute was formed at a ...

Alternatively, a sample size can be found to achieve a desired probability of having the width of the confidence interval smaller than a predetermined upper bound. JEBS provides an outlet for papers ...