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A Recent Decline in Interest Rates Made Home Construction More

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A recent decline in interest rates made home construction more affordable for many families.The consequent increase in construction produced a rightward shift in the demand curves for construction materials.Economists would say that the change in demand for materials is due to


Definitions:

Coverage Error

The error that occurs when the sample does not adequately represent the population being studied, often due to undercoverage or overcoverage.

Statistical Inference

The process of using data analysis to deduce properties of an underlying distribution of probability.

Huge Data

A colloquial term likely referring to "Big Data," which describes extremely large data sets that may be analyzed computationally to reveal patterns, trends, and associations.

Big Data

Large volumes of data - both structured and unstructured - that inundate a business on a day-to-day basis.

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