Business Statistics

Serial correlation, also known as autocorrelation, is a statistical term that refers to the link between the present value of a variable and a lagged…

Multicollinearity (also known as collinearity) is a statistical phenomenon in which one predictor variable in a multiple regression model may be predicted linearly from the…

Multiple linear regression (MLR), often known as multiple regression, is a statistical approach for predicting a variable’s outcome based on the values of two or…

Adjusted R-squared (R2) is a modified version of R-squared (R2) with the number of predictors in the model adjusted. To put it another way, the…

The sum of squares (SS) is a statistic that measures how far individual measurements deviate from the mean. It is a statistical technique that is…

The residual sum of squares (RSS), also known as the sum of squared residuals (SSR) or the sum of a squared estimate of errors (SSE),…

The standard error (SE) is a mathematical technique used to quantify variability in statistics. It is a statistical term that uses standard deviation to determine…

In descriptive statistics, the standard deviation is the degree of dispersion or scatter of data points compared to the mean. The standard deviation can assist…

In a statistical computation, the degrees of freedom (commonly abbreviated as “d.f.” or “df“) indicate how many values in the calculation have the flexibility to…

An estimated 41 million Americans say they need life insurance but have not yet been able to buy their coverage. Despite this awareness among consumers,…

The two-way analysis of variance (ANOVA), often known as Two Way ANOVA, is a statistical test that is used to compare the means of multiple…

The analysis of variance (ANOVA) is a statistical technique for determining if the means of two or more groups differ significantly. An ANOVA test is…