Normalizing data is a common task in many applications, especially when working with large datasets, machine learning, or statistical analysis. There are two common statistical methods for normalization: Min-Max Scaling, Standardization or Z-score Normalization. But there are other ways too, which I will demonstrate in the examples below. 1. Min-Max Scaling (Normalizes Data to Between […]
Tag: statistics
Comparing Apples with Oranges?
The familiar saying, “Comparing apples to oranges,” suggests that it’s illogical to compare two distinct items. However, in the realm of statistics, such comparisons are not only possible but sometimes necessary. By establishing a uniform standard or metric, we can evaluate items that, at first glance, appear incomparable. In this article, I present some straightforward […]
Debt-to-GDP ratios
Debt-to-GDP ratio, an economic metric comparing a country’s government debt to its GDP, is important for evaluating economic stability and repayment ability. If we know the Debt-to-GDP ratio and the GDP, we can calculate the debt. So, if a country’s Debt-to-GDP ratio is 264% and its GDP is 100 units, then its debt would be […]
Champions League: Probabilities, Odds, Payouts
The Champions League final is set, featuring Borussia Dortmund versus Real Madrid. This post will cover the betting odds, payouts, and probabilities of various outcomes, as well as how to interpret and calculate them on your own. Who will you root for? An article I read online recently stated that according to Bet365, the Borussia […]
All About NFL’s Top Heach Coaches
I dug some information on some of the 32 head coaches in NFL today, and did some analayses. I was intrigued by their performance, compensation, their roots, their network and influence, correlations among various parameters like age, experience, wins, and salary. I also looked at how many teams they’ve coached in the past, and how […]
Predicting missing/unknown information
Analysts often need to fill in the blanks in order to make longer-term decisions, or just to model different scenarios by making credulous predictions. In this post, I share just one of such scenarios and demonstrate how to make predictions using both statistical formulas manually and Excel’s feature. Lastly, we’ll see the difference between the […]
A Risk Assessment Map—my approach
I’ve seen many pretty risk assessment maps over time. The issue I see with most of them is that they’re more of an illustration than a method meaning, they’re customized visuals with manual graphics that don’t scale well for different projects. In the post, I’ll share my approach…it’s based on applying basic statistical concept, development […]
Using Stock Price Charts On Humans
Using the same dataset, I’ve shown in my earlier blog: Scattered Data To A Butterfly, Or A Tornado! https://flyingsalmon.net/blog/?p=2194 on how to present similar information visually and add interactivity, in this post, I’ll show other ways to present the information visually and walk through the pros and cons of each. I won’t be using any […]
How to find the most occurring words in a document?
Every now and then I see in technical forums questions such as this: How do I find the most occurring word in my Word document? Or PDF document? Or Emails? etc. The question is a valid one if that’s something you’re curious about or need to find out in your professional role. In this blog, […]
Tracking Actual vs. My Predictions 4/29/20
Back in March 2020, I did some predictive modeling using simple math and Excel where I presented 3 scenarios: Likely, Best-case, Worst-case. You can read the original blog here: What-If Models (COVID-19): Results Let’s take a look at today’s latest data from WHO and compare my Model 1: Likely Scenario numbers. We’ll compare the USA […]