Confidence Interval
A range of values, derived from sample statistics, that is likely to contain the value of an unknown population parameter.
12 topics found for
“data estimation”
Sales Forecasting
The process of estimating future sales based on historical data, trends, and market analysis.
Train/Test
A method of splitting a dataset into two subsets: one for training a model and another for testing its performance.
Cross Validation
A statistical method used to assess the generalizability of a model to unseen data, involving partitioning a dataset into subsets for training and validation.
T-Shirt Sizing
A relative estimation technique used in Agile project management to quickly assess the size and complexity of tasks by assigning them T-shirt sizes (e.g., small, medium, large).
Linear Regression
A statistical method that models the relationship between a dependent variable and one or more independent variables by fitting a linear equation to observed data.
Planning Fallacy
A cognitive bias where individuals underestimate the time, costs, and risks of future actions while overestimating the benefits.
Logistic Regression
A statistical method used to predict a binary outcome based on prior observations, modeling the probability of an event as a function of independent variables.
LTV
Lifetime Value (LTV) is a metric that estimates the total revenue a business can expect from a single customer account throughout their relationship.