Examlex
When picking 6 lottery numbers, 12, 7, 4, 31, 6, 28 is more likely to win (if the lottery is fair) than 1, 2, 3, 4, 5, 6.
Predictive Analytics
Predictive analytics involves using historical data, statistical algorithms, and machine learning techniques to forecast future trends or behavioral patterns.
Statistical Algorithms
A series of mathematical procedures that process data to identify patterns, trends, or relationships among variables.
Historical Data
Information collected about past events and conditions pertaining to a particular subject.
Nonresponse Error
Bias introduced in survey results when a significant number of invited participants decide not to respond.
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