Examlex
The following histogram represents the distribution of acceptance rates (percent accepted) among 25 business schools in 2004. In each class interval, the left endpoint but not the right is included, so the class intervals are 10 rate < 15, 15 rate < 20, etc. What is the median acceptance rate?
Prediction Error
The difference between the observed values and the values predicted by a model.
Absolute Value
The non-negative value of a number without regard to its sign; essentially, it's the distance of a number from zero on the real number line.
Correlation
Correlation is a statistical measure that expresses the extent to which two variables fluctuate together, showing the strength and direction of their relationship.
Scatter Plot
A type of graph or plot which uses Cartesian coordinates to display values for typically two variables for a set of data.
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