Estimation theory is a branch of statistics concerned with estimating parameter values based on measured empirical data with a random component. It is a crucial mathematical concept that is used in a wide range of communication and signal processing applications. The parameters describe an underl.....

### Business Statistics

### Statistical Modeling

Regression analysis is a set of statistical processes used in statistical modeling to estimate the relationships between a dependent variable and one or more independent variables. It is the application of statistical analysis to a dataset. Linear regression is the most common type of regression .....

### Uniform Distribution

Uniform distribution is a word used in statistics to describe a type of probability distribution in which every conceivable event has an equal chance of occurring. Because the chances of drawing a heart, a club, a diamond, or a spade are equal, a deck of cards has uniform distributions. The proba.....

### A Priori Probability

A priori probability, often known as classical probability, is derived through formal reasoning. The principle of indifference is one technique to derive a priori probabilities. It states that if there are N mutually exclusive and collectively exhaustive occurrences that are equally likely, then .....

### Conditional Probability

Probability is essentially a measure of the possibility of something happening. And the likelihood ranges from 0 (impossible) to 1 (possible) (certain). In a sample space, the total of all probability for all events is 1. The likelihood of an event occurring if another event has already occurred .....