Examlex
Referring to this box plot of ice cream fat content,the median seems more "typical" of fat content than the midrange as a measure of center.
Prediction Interval
An estimate of the interval within which future observations will fall, with a certain probability, given what has already been observed.
One-Time Occurrence
An event or happening that takes place once and is not repeated.
API Gravity
A measure of how heavy or light a petroleum liquid is compared to water, used in the oil and gas industry to classify oils.
Pearson Correlation
A measure of the linear relationship between two quantitative continuous variables, ranging from -1 to 1, where 1 means a perfect positive correlation and -1 a perfect negative correlation.
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