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The generalized mean, also known as the power mean or Hölder mean, is an abstraction of the quadratic, arithmetic, geometric, and harmonic means. It is defined for a set of n positive numbers xi by. [1] By choosing different values for the parameter m, the following types of means are obtained: maximum of. quadratic mean.
For example, designing a survey often involves minimizing the cost of estimating a population mean with a given level of confidence. Because of its use of optimization, the mathematical theory of statistics overlaps with other decision sciences, such as operations research, control theory, and mathematical economics. Computational mathematics
Multiple comparisons arise when a statistical analysis involves multiple simultaneous statistical tests, each of which has a potential to produce a "discovery". A stated confidence level generally applies only to each test considered individually, but often it is desirable to have a confidence level for the whole family of simultaneous tests.
In mathematics and statistics, the arithmetic mean ( / ˌærɪθˈmɛtɪk ˈmiːn / arr-ith-MET-ik ), arithmetic average, or just the mean or average (when the context is clear) is the sum of a collection of numbers divided by the count of numbers in the collection. [1] The collection is often a set of results from an experiment, an ...
The foundations of statistics consist of the mathematical and philosophical basis for arguments and inferences made using statistics. This includes the justification for the methods of statistical inference, estimation and hypothesis testing, the quantification of uncertainty in the conclusions of statistical arguments, and the interpretation ...
Mathematical statistics is the application of probability theory, a branch of mathematics, to statistics, as opposed to techniques for collecting statistical data. Specific mathematical techniques which are used for this include mathematical analysis, linear algebra, stochastic analysis, differential equations, and measure theory. [1] [2]
In statistics, regression toward the mean (also called regression to the mean, reversion to the mean, and reversion to mediocrity) is the phenomenon where if one sample of a random variable is extreme, the next sampling of the same random variable is likely to be closer to its mean. [1] [2] [3] Furthermore, when many random variables are ...
It is a variant of MAPE in which the mean absolute percent errors is treated as a weighted arithmetic mean. Most commonly the absolute percent errors are weighted by the actuals (e.g. in case of sales forecasting, errors are weighted by sales volume). [3]