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Real-life application of Hypothesis testing

Hypothesis testing is a fundamental statistical technique used in various real-life applications to make decisions, validate assumptions, and draw conclusions based on data. Here are some examples of how hypothesis testing is used in different fields: Medicine and Healthcare: Hypothesis testing plays a crucial role in clinical trials and medical research. Researchers use hypothesis testing[...]
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For the ones who have knack for numbers.

For the ones who have knack for numbers. People usually create their careers based on the subjects they love from their school time, or have an in-built awe towards it. For subjects such as Economics, Business Management, Mathematics, or Finance, the chances of you becoming an Actuary are high. And if you have solely decided[...]
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Duration: Introduction and its Implications

Duration: Introduction and its Implications INTRODUCTION Duration of liability can be defined in more than one way. However, in actuarial valuation, duration of liability generally refers to the average duration (or mean term) of the liability. In other words, it refers to the average number of years at which a liability is paid off. One[...]
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Impact of Covid-19 on the Indian economy

Impact of Covid-19 on the Indian economy   Coronavirus (Covid-19) is an unpredictable pandemic that came as a big challenge for every economy (developing, developed and under-developed) in terms of every aspect. Talking for the Indian economy, the pandemic brought several challenges; one of them is to maintain a GDP growth rate. After demonetization, the[...]
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