Tag: statistical

Quality control charts are an important tool for ensuring the quality of your products or services. By creating and using a quality control chart,...

What is 'Variability' Variability is the extent to which data points in a statistical distribution or data set diverge from the average,...

What is 'Value At Risk - VaR' Value at risk (VaR) is a statistical technique used to measure and quantify the level...

DefinitionData mining is the process of discovering patterns in large data sets involving methods at the intersection of machine learning, statistics, and database systems....

What is 'Quality Control' Quality control is a process through which a business seeks to ensure that product quality is maintained or...

DefinitionIn probability theory and statistics, kurtosis is a measure of the "tailedness" of the probability distribution of a real-valued random variable. In a similar...

What is 'Values' The worth of a nonforfeiture clause that specifies that an insured party would receive the equity from a life...

DefinitionIn probability theory, the law of large numbers is a theorem that describes the result of performing the same experiment a large number of...

What is econometrics and what does it involve Econometrics is the study of relationships between economic variables using statistical methods. It is concerned with the...

What is 'R-Squared' R-squared is a statistical measure that represents the percentage of a fund or security's movements that can be explained...