Non-parametric method - a section of statistics that does not assume that the data come from given models determined by a small number of parameters.
Non-parametric analysis is often best suited to consider the order of something, where even if the numerical data changes, the results are likely to stay the same.
This is different from parametric methods, which make assumptions about the shape or characteristics of the data. Examples of such methods include a normal distribution model and a linear regression model.
The chi-square statistic (χ2) is a measure of the difference between the observed and expected frequencies of the outcomes of a set of events or variables.
Non-linearity is a mathematical term that describes a situation where the relationship between the independent variable and the dependent variable cannot be predicted along a straight line.
The Poisson distribution, named after the French mathematician Siméon Denis Poisson, can be used to estimate how many times an event can occur within “X” time periods.
The posterior probability in Bayesian statistics is the revised or updated probability of an event occurring after new information has been taken into account.
Unconditional probability reflects the probability that some event will occur without taking into account any other possible influences or previous results.
The 90/10 retirement investment strategy involves investing 90% of investment capital in low-cost S&P 500 index funds, and the remaining 10% in short-term government bonds.
The chief operating officer (COO) is the senior officer tasked with overseeing the day-to-day administrative and operational functions of the business.