Accuracy, Errors, Precision, and Confidence
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- October 8, 2014
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Definitions of Accuracy, Errors, Precision, and Confidence Make sure that you do not confuse several related but very different terms: accuracy, error, precision, and confidence. Albeit people tend to use … Continue Reading →
Bootstrap Simulation
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- October 8, 2014
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Theory Bootstrap simulation is a simple technique that estimates the reliability or accuracy of forecast statistics or other sample raw data. Bootstrap simulation can be used to answer a lot … Continue Reading →
Segmentation Clustering
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- October 1, 2014
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Another analytical technique of interest is that of segmentation clustering. Figure 1 illustrates a sample dataset. You can select the data and run the tool through Risk Simulator | Tools … Continue Reading →
Correlations and Correlated Simulation with Copulas
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- October 1, 2014
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The Basics of Correlations The correlation coefficient is a measure of the strength and direction of the relationship between two variables, and it can take on any value between –1.0 … Continue Reading →
Hypothesis Testing
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- October 1, 2014
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Theory A hypothesis test is performed when testing the means and variances of two distributions to determine if they are statistically identical or statistically different from one another; that is, … Continue Reading →
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