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4 days ago · The statistics dictionary will display a definition for the term, plus links to related web pages. This online statistics dictionary takes the mystery out of statistical jargon. It includes all of the technical terms used on the Stat Trek website, explained (we hope) in plain English. In addition, most definitions include links to other web ...
4 days ago · Value At Risk - VaR: Value at risk (VaR) is a statistical technique used to measure and quantify the level of financial risk within a firm or investment portfolio over a specific time frame. This ...
1 day ago · Definition. Pearson's correlation coefficient is the covariance of the two variables divided by the product of their standard deviations. The form of the definition involves a "product moment", that is, the mean (the first moment about the origin) of the product of the mean-adjusted random variables; hence the modifier product-moment in the name.
5 days ago · Variance measures the extent to which a set of data points deviate from the mean, providing insight into the data's dispersion and variability. Comprehensive definition of the term variance Variance, a fundamental concept in statistics and probability theory, quantifies the spread of data points around their mean value.
1 day ago · The standard deviation of a probability distribution, just like the variance of a probability distribution, is a measurement of the deviation in that probability distribution. It allows one to quantify how much the outcomes of a probability experiment tend to differ from the expected value. Standard deviation is often used in the calculation of other statistics such as the ...
3 days ago · The theorem is a key concept in probability theory because it implies that probabilistic and statistical methods that work for normal distributions can be applicable to many problems involving other types of distributions. This theorem has seen many changes during the formal development of probability theory.
1 day ago · It is also a component of the definition of the t-distribution and the F-distribution used in t-tests, analysis of variance, and regression analysis. The primary reason for which the chi-squared distribution is extensively used in hypothesis testing is its relationship to the normal distribution.
