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.
24 topics found for
“statistical modeling”
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.
Train/Test
A method of splitting a dataset into two subsets: one for training a model and another for testing its performance.
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.
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.
Monte Carlo Simulation
A statistical technique that uses random sampling and statistical modeling to estimate mathematical functions and simulate systems.
Polynomial Regression
A form of regression analysis where the relationship between the independent variable and the dependent variable is modeled as an nth degree polynomial.
Business Analytics
The process of using statistical analysis and modeling to explore and interpret business data to make informed decisions.
Multiple Regression
A statistical technique that uses several explanatory variables to predict the outcome of a response variable, extending simple linear regression to include multiple input variables.