by TheBusinessProfessor | Feb 23, 2025 | Research, Quantitative Analysis, & Decision Science
What is a Coefficient of Determination?The coefficient of determination (R squared), is defined as the proportion of the variance in the dependent variable that is predictable from the independent variable(s). It is a statistic that indicates the percentage of the...
by TheBusinessProfessor | Feb 23, 2025 | Research, Quantitative Analysis, & Decision Science
What is the Coefficient of Variation?According to probability theory and statistics, the standardized measure of the dispersion of a probability distribution or frequency distribution is referred to as the coefficient of variation (CV). It can also be called...
by TheBusinessProfessor | Feb 23, 2025 | Research, Quantitative Analysis, & Decision Science
What is a Type I Error?A type I error is a type of error that occurs in statistical hypothesis testing in which a true null hypothesis is rejected. When a null hypothesis which is actually true is rejected when it should not be, a type I error has occurred. In...
by TheBusinessProfessor | Feb 23, 2025 | Research, Quantitative Analysis, & Decision Science
What is a Type II Error?A type II error occurs when there is a non-rejection of a false null hypothesis, this type of error is also called a false negative finding or conclusion. In statistical hypothesis testing, if a false null hypothesis is not rejected when it...
by TheBusinessProfessor | Feb 23, 2025 | Research, Quantitative Analysis, & Decision Science
What is a Stepwise Regression?Stepwise regression is a statistical method of building a model in which an automatic selection of independent variables occur. This form of regression uses repetitive steps, in each step, there is a forward or backward selection of...
by TheBusinessProfessor | Feb 23, 2025 | Research, Quantitative Analysis, & Decision Science
What is a Frequency Distribution?A frequency distribution is a chart or list that presents the frequency of different outcomes in a given sample. The frequency distribution presents an overview of all the values or variables in a given sample that the frequency...
