Examlex
A quick method of finding out the degree of customer satisfaction at a local supermarket would be through the use of:
Standard Residuals
Residuals that have been standardized to have a mean of 0 and a standard deviation of 1, useful for identifying outliers in regression analysis.
Standard Deviation
A statistic that measures the dispersion of a dataset relative to its mean and is calculated as the square root of the variance.
Simple Linear Regression
Simple Linear Regression is a statistical method to model the relationship between a single independent variable and a dependent variable by fitting a linear equation.
Sample Correlation Coefficient
A measure that indicates the degree of linear relationship between two variables in a sample, ranging between -1 and 1, where 1 means a perfect positive correlation and -1 a perfect negative correlation.
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