Examlex
Based on a recent poll, there is a 50-50 chance that a randomly selected adult has pierced ears. Express the indicated degree of likelihood as a probability value between 0 and 1.
Confidence Interval
An aggregate of values, concluded from statistical review of samples, assumed to likely house the unknowable value of a population parameter.
Prediction Interval
A range of values that is likely to include the value of an unknown parameter for a future observation with a specified probability.
Heteroscedasticity
A condition in regression analysis where the variance of errors or the variability of a dependent variable is unequal across all levels of an independent variable.
Residuals
The differences between observed values and the values predicted by a model, indicating the error in predictions.
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