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Correlation
A statistical measure that expresses the extent to which two variables change together, indicating the strength and direction of their relationship.
Probability Distribution
A statistical description enumerating all likely values and their corresponding probabilities for a random variable within a set interval.
Error Variable \(ε\)
In statistical modeling, particularly in linear regression, it represents unobserved random errors or deviations of observed values from their expected values.
Scatter Diagram
A graphical representation that shows the relationship between two quantitative variables by plotting data points on a two-dimensional plane.
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