A prior distribution is a probability distribution that is used to assign a probability to each outcome in a problem before any data is observed. This distribution is usually chosen based on experience or intuition.
Definition of SaaS SaaS: Service as a software (SaaS) is a software delivery model in which software and its associated data are hosted by the provider. Customers can access and use the software, typically through a web browser, while the provider manages the infrastructure and security.Service as a software (SaaS) is a software delivery model…
Definition of JSON JSON: JSON, or JavaScript Object Notation, is a lightweight data-interchange format. It is easy for humans to read and write, and for machines to parse and generate. JSON is based on a subset of the JavaScript language, which uses curly braces { } to enclose objects, and arrays are denoted by square…
Definition of Growth Curve Growth Curve – A growth curve is a graphical representation of the change in some quantity over time. It can show how the quantity changes over the entire range of time being studied, or it can focus on more specific intervals of time. The most common type of growth curve is…
Definition of Mathematical Statistics Mathematical Statistics: Mathematical statistics is a branch of mathematics that deals with the collection, analysis, interpretation, presentation, and organization of data. It also provides techniques for estimating properties of populations from samples. Mathematical statistics is distinguished from other statistical techniques in that it relies on mathematical theory as a foundation. What…
Definition of D3 D3 is a JavaScript library for data-driven documents. It helps you to create data visualisations using HTML, SVG and CSS. D3 makes it easy to bind data to DOM nodes, making it easy to manipulate and style your data. What is D3 used for? D3, or Data-Driven Documents, is a JavaScript library…
Definition of Econometrics Econometrics is a quantitative research field in economics that uses mathematical and statistical methods to analyze economic data. What is Econometrics used for? Econometrics is an empirical branch of economics that uses statistical methods to analyze economic data and evaluate theories. It utilizes mathematical models and statistical concepts to study a variety…