Examlex
Which of the following is part of the benchmarking process?
Correlation Coefficient
A measure that determines the degree to which two variables' movements are associated, ranging from -1 (perfect negative correlation) to +1 (perfect positive correlation).
Prediction Interval
An estimate of an interval in which future observations will fall, with a certain degree of confidence, based on a predictive model.
Linear Regression
A mathematical approach that models how a dependent variable changes based on one or several independent variables, by adapting a linear equation to the data collected.
Mean Value
The average of a set of numbers, calculated by dividing the sum of these numbers by the count of numbers in the set.
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