Regression to the Mean: Definition & Examples
Statistics By Jim
by Jim Frost
9h ago
What is Regression to the Mean? Regression to the mean is the statistical tendency for an extreme sample or observed value to be followed by a more average one. It is also known as reverting to the mean, highlighting the propensity for a later observation to move closer to the mean after an extreme value. […] The post Regression to the Mean: Definition & Examples appeared first on Statistics By Jim ..read more
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Attrition Bias: Definition & Examples
Statistics By Jim
by Jim Frost
1w ago
What is Attrition Bias? Attrition bias in research occurs when study participants who drop out have characteristics that differ significantly from those who remain. This selective dropout can lead to skewed results and misinterpretations if the researchers don’t adequately address it. This threat is higher for longitudinal studies and those with relatively high attrition rates. […] The post Attrition Bias: Definition & Examples appeared first on Statistics By Jim ..read more
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Conjunction Fallacy: Definition & Example
Statistics By Jim
by Jim Frost
2w ago
What is the Conjunction Fallacy? The conjunction fallacy is a cognitive bias that occurs when someone mistakenly believes that two events occurring together are more likely than either of the two events alone. In other words, it’s the mistaken belief that a precisely detailed, multifaced outcome is more likely to occur than a more generalized […] The post Conjunction Fallacy: Definition & Example appeared first on Statistics By Jim ..read more
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Base Rate Fallacy Overview & Examples
Statistics By Jim
by Jim Frost
2w ago
What is Base Rate Fallacy? Base rate fallacy is a cognitive bias that occurs when a person misjudges an outcome by giving too much weight to case-specific details and overlooks crucial probability information that applies to all cases in a population. That vital probability is the outcome’s base rate of occurrence in the population. In […] The post Base Rate Fallacy Overview & Examples appeared first on Statistics By Jim ..read more
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Quasi Experimental Design Overview & Examples
Statistics By Jim
by Jim Frost
3w ago
What is a Quasi Experimental Design? A quasi experimental design is a method for identifying causal relationships that does not randomly assign participants to the experimental groups. Instead, researchers use a non-random process. For example, they might use an eligibility cutoff score or preexisting groups to determine who receives the treatment. In contrast, true experiments […] The post Quasi Experimental Design Overview & Examples appeared first on Statistics By Jim ..read more
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Residual Sum of Squares (RSS) Explained
Statistics By Jim
by Jim Frost
1M ago
The residual sum of squares (RSS) measures the difference between your observed data and the model’s predictions. It is the portion of variability your regression model does not explain, also known as the model’s error. Use RSS to evaluate how well your model fits the data. In least squares regression, the concept of the sum […] The post Residual Sum of Squares (RSS) Explained appeared first on Statistics By Jim ..read more
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Covariance vs Correlation: Understanding the Differences
Statistics By Jim
by Jim Frost
1M ago
Covariance vs correlation both evaluate the linear relationship between two continuous variables. While this description makes them sound similar, there are stark differences in how to interpret them. Although these statistics are closely related, they are distinct concepts. How are they different? In this post, learn about the differences between covariance vs correlation and what […] The post Covariance vs Correlation: Understanding the Differences appeared first on Statistics By Jim ..read more
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Risk Calculations: Relative vs Absolute & Risk Reduction
Statistics By Jim
by Jim Frost
2M ago
What’s the risk? People discuss risk frequently, but it’s not always clearly understood. It is your exposure to danger or adverse outcomes. Statistically, we define risk as the probability of a negative outcome occurring, and there are several ways to calculate it. Imagine deciding whether to take a medication to reduce the chances of an […] The post Risk Calculations: Relative vs Absolute & Risk Reduction appeared first on Statistics By Jim ..read more
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Omitted Variable Bias: Definition, Avoiding & Example
Statistics By Jim
by Jim Frost
2M ago
What is Omitted Variable Bias? Omitted variable bias (OVB) occurs when a regression model excludes a relevant variable. The absence of these critical variables can skew the estimated relationships between variables in the model, potentially leading to erroneous interpretations. This bias can exaggerate, mask, or entirely flip the direction of the estimated relationship between an […] The post Omitted Variable Bias: Definition, Avoiding & Example appeared first on Statistics By Jim ..read more
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What is a Case Study? Definition & Examples
Statistics By Jim
by Jim Frost
2M ago
Case Study Definition A case study is an in-depth investigation of a single person, group, event, or community. This research method involves intensively analyzing a subject to understand its complexity and context. The richness of a case study comes from its ability to capture detailed, qualitative data that can offer insights into a process or […] The post What is a Case Study? Definition & Examples appeared first on Statistics By Jim ..read more
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