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When Should You Use Bar Charts

Bar charts are one of the most fundamental types of charts, also making them the most widely used. So, it is imperative to understand when one should use bar graphs & what type of...

Advantages and Disadvantages of Mean in Statistics

The most popular and widely used measure of representing the entire data by one value is what most laymen call the "average" and what statisticians call the arithmetic mean. Its value is obtained by...

Advantages, Disadvantages & Uses of Median in Statistics

The median of a set of data values is an important measure of the central tendency of the data. It gives us information about where the center of the given data lies. We now...

Why is the Median Resistant but the Mean is Not?

We say that a statistical quantity is resistant to outliers if it does not change drastically due to the presence of extreme values. The mean is not resistant to outliers, that is, the value...

Advantages & Disadvantages of Grounded Theory

To give a very brief definition of Grounded theory before we delve into the advantages and disadvantages of Grounded Theory, it is a qualitative research methodology that aims to construct hypotheses and theories through...

Advantages and Disadvantages of the Moving Averages Method

Moving averages are a fairly straightforward and adaptable way to measure trends in a given time series data. If we want to predict the movement of some variable values over time, we must smooth...

Chronological Classification of Data – Definition | Examples

Chronological Classification of Data refers to the classification of data with reference to time intervals which may be measured in years, months, etc. Most business and economic data are usually classified chronologically in the...

The Ultimate Guide to Exploratory Research

Imagine you want to launch a new parcel pick and drop app and want to find out if people would find such a service valuable. Or what challenges do people face with existing services,...