Author Archive

### Difference Between Circumference and Perimeter

// Nov 27th, 2012
Circumference vs Perimeter   Perimeter is a concept in geometry and refers to the length of a closed boundary around a figure, especially an area. As with most terms used in geometry, perimeter also has Greek origins, peri meaning around and meter meaning measure. The perimeter of a geometric figure can be calculated...

### Difference Between Calibration and Validation

// Nov 26th, 2012
Calibration vs Validation   Calibration and validation are two processes in manufacturing to guarantee the quality of the product or related apparatus. With the calibration, the measurements are compared with an accepted reference measurement, to assure the considered measurements comply with the requirements....

### Difference Between Possible and Probable

// Nov 26th, 2012
Possible vs Probable   Probable and possible are two commonly used words in the English language. Even though these words do not share the same roots, they convey an idea very slightly different from each other. Therefore, as always with such things, there’s confusion regarding the meaning and the usage...

### Difference Between Sine and Arcsine

// Nov 26th, 2012
Sine vs Arcsine   Sine is one of the basic trigonometric ratios. It is an inevitable mathematical entity you find in any mathematical theory from the high school level onwards. Just as the Sine gives a value for a given angle, the angle for a given value can also be calculated. Arcsin or Inverse Sin is that...

### Difference Between Giffen Goods and Inferior Goods

// Nov 24th, 2012
Giffen Goods vs Inferior Goods   Giffen goods and inferior goods are quite similar to each other since giffen goods are also types of inferior goods and neither follows the general demand patterns. This is because with regard to each type of product, when savings are made (either due to low price, or higher income)...

### Difference Between Demand Curve and Supply Curve

// Nov 24th, 2012
Demand Curve vs Supply Curve   Demand and supply are fundamental concepts in the study of economics that are very closely related to one another. Demand looks at the buyer’s side, and supply looks at the seller’s side. The demand and supply curves are graphical representations of the law of demand and...

### Difference Between Cost Benefit and Cost Effectiveness

// Nov 24th, 2012
Cost Benefit vs Cost Effectiveness   Cost benefit analysis and cost effective analysis are both tools used for decision making and help in evaluating a project/investment/course of action in terms of either their feasibility and profitability or value and effectiveness. Cost benefit and cost effectiveness also allow...

### Difference Between Consumer Surplus and Producer Surplus

// Nov 24th, 2012
Consumer Surplus vs Producer Surplus   Consumer surplus and producer surplus are terms that are used hand in hand to explain the benefits that exist for a consumer and producer when buying and selling goods in a market place. Consumer surplus is the benefit available to the consumer and producer surplus is...

### Difference Between Collateral and Mortgage

// Nov 24th, 2012
Collateral vs Mortgage   Mortgages and collateral are terms that are closely related to one another and are constantly referred to when discussing loans and lending. Collateral acts as an insurance policy for lenders which can be sold to recover losses when a borrower defaults on their loan. Mortgage is a...

### Difference Between Interval and Ratio

// Nov 24th, 2012
Interval vs Ratio   Interval scale and ratio scale are two of the levels of measurement or scales of measurement where they describe the attributes in quantitative scales. The concept was first introduced by the psychologist Stanley Smith Stevens in 1946. In his article titled “on the theory of the scales...

### Difference Between Gaussian and Normal Distribution

// Nov 24th, 2012
Gaussian vs Normal Distribution   First and foremost the normal distribution and the Gaussian distribution are used to refer the same distribution, which is perhaps the most encountered distribution in the statistical theory. For a random variable x with Gaussian or Normal distribution, the probability distribution...

### Difference Between Variance and Covariance

// Nov 23rd, 2012
Variance vs Covariance   Variance and covariance are two measures used in statistics. Variance is a measure of the scatter of the data, and covariance indicates the degree of change of two random variables together. Variance is rather an intuitive concept, but covariance is defined mathematically in not that...

### Difference Between Correlation and Covariance

// Nov 23rd, 2012
Correlation vs Covariance   Correlation and covariance are closely related concepts in theoretical statistics. They are important in determining the relationship between two random variables. What is Correlation? Correlation is a measure of the strength of the relationship between two variables. The correlation...

### Difference Between Parameter and Statistic

// Nov 23rd, 2012
Parameter vs Statistic   Consider these questions; what is the average income of a person in your country, what is the average height of women in the world, and what is the average weight of the eggs produced by certain breeds of fowl? It is impossible to do a survey that includes all the subjects of interest....

### Difference Between Regression and ANOVA

// Nov 23rd, 2012
Regression vs ANOVA   Regression and ANOVA (Analysis of Variance) are two methods in the statistical theory to analyze the behavior of one variable compared to another. In regression, it is often the variation of dependent variable based on independent variable while, in ANOVA, it is the variation of the...

### Difference Between Annuity and Perpetuity

// Nov 22nd, 2012
Annuity vs Perpetuity   Annuities and perpetuities are terms that are very important for any investor to know and understand since they both refer to types of financial payments made. An annuity is a repayment made periodically for a set period of time, whereas a perpetuity is a periodic repayment that has...