Standard error of the mean: The standard error of the mean (SEM) is a measure of the standard deviation of the sample mean. It is used to estimate the standard deviation of a population from a sample.
Bayes’ Theorem is a mathematical formula that calculates the likelihood that a particular event will happen, based on the conditional probability of that event occurring, given that some other event has…
The Chi-square Test is a statistical hypothesis test used to determine the significance of the difference between the observed and expected values of a given data set. The chi-square statistic is used to …
Definition of Database Administrator Database Administrator: A database administrator (DBA) is a professional who is responsible for the design, creation, installation, monitoring and maintenance of a database. DBAs are also responsible for ensuring that the database is available to users and that data is accurate and secure. What does a Database Administrator do? A Database…
Definition of Predictive Analytics Predictive analytics is the practice of using data mining and machine learning techniques to make predictions about future events. Predictive analytics can be used to predict things such as how likely a customer is to churn, or what the probability is that a particular disease will occur in a population.