Confidence Interval
A range of values, derived from sample statistics, that is likely to contain the value of an unknown population parameter.
41 topics found for
“statistical analysis”
Normal Data Distribution
A symmetrical, bell-shaped distribution of data where most observations cluster around the mean.
Central Limit Theorem
A statistical theory that states that the distribution of sample means approximates a normal distribution as the sample size becomes larger, regardless of the population's distribution.
Data Distribution
The spread and pattern of data values in a dataset, often visualized through graphs or statistical measures.
Analytics
The systematic computational analysis of data or statistics to understand and improve business performance.
Standard Deviation
A statistical measure that quantifies the amount of variation or dispersion of a set of data values.
Factor Analysis
A statistical method used to identify underlying relationships between variables by grouping them into factors.
Berkson’s Paradox
A statistical phenomenon where two independent events appear to be correlated due to a selection bias.
Empirical Rule
Also known as the 68-95-99.7 Rule, it states that for a normal distribution, nearly all data will fall within three standard deviations of the mean.