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The least-square is used in regression analysis to approximate the solution of an overdetermined system.
Outlier refers to data points that significantly differ from the other observations. Most of the time, outliers create a critical error in statistical analysis. Therefore, every statistician always tries to avoid outliers in their statistical analysis.
Statistical significance is interrelated to hypothesis testing. When it occurs, then it gives the null hypothesis.
Bayes is one of the crucial theorems in statistics. It is based on prior knowledge of the condition related to the events.
The combination is widely used in our day-to-day life, and there are many types of combinations, like k-selection, k-multiset, or k-combination, to find the combination.
Diagrammatic and tabular forms techniques come into data visualization and are crucial for modern statistics. Thus, our online helpers solve the most complex data in stipulated time.
Continuous variables are used for height, weight, and for temperature measurements. Continuous distributions usually have a zero probability. In contrast, discrete probability is used for a particular value with no zero relationships with each other.
With point estimation, we get the estimated value of the population parameter. However, interval estimation gives us the range of values containing the population parameter.
The fundamental principal component analysis reduces the large set into small batches. The variables in the small set are known as principal factors.
Probability varies from elementary to advanced level. Thus, our experts will deal with all types of probability and probability distributions at a low cost.
The random variables can be random quantity, aleatory, or stochastic to predict uncertain outcomes.
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The Two Major Branches Of statistics are:
Both descriptive and inferential branches of statistics go hand in hand and the existence of one completely depends on the other. However, a scientific methodology needs to be followed in both of these and is equally important for a researcher.
Descriptive Statistics is that branch of statistics concerned with describing the population under study.
Inferential Statistics focuses on concluding the population-based on sample analysis and observation.
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