Examlex
According to the empirical rule,if the data form a "bell-shaped" normal distribution,percent of the observations will be contained within 3 standard deviations around the arithmetic mean.
Crystal Ball
In forecasting and predictive analysis, a tool or method that allows for the estimation of future conditions or occurrences.
Tornado Charts
A graphical method used in sensitivity analysis to show the effect of varying different parameters on a particular outcome.
Monte Carlo Simulation
A computational algorithm that relies on repeated random sampling to obtain numerical results, often used in physical and mathematical problem-solving.
Correlation Coefficients
Statistical measures that quantify the strength and direction of the linear relationship between two variables, ranging from -1 (perfect negative correlation) to 1 (perfect positive correlation).
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