Useful tips for everyday
What is the relationship between covariance and independence of random variables? ‘ We’ve said that if random variables are independent, then they have a Covariance…
What is DHARMa residual? DHARMa: Residual Diagnostics for Hierarchical (Multi-Level / Mixed) Regression Models. The ‘DHARMa’ package uses a simulation-based approach to create readily interpretable…
What is r in Brownian motion? Brownian motion is a stochastic model in which changes from one time to the next are random draws from…
Are hierarchical models Bayesian? Bayesian hierarchical modelling is a statistical model written in multiple levels (hierarchical form) that estimates the parameters of the posterior distribution…
How are correlations used in business? Correlation is used to determine the relationship between data sets in business and is widely used in financial analysis…
What are the patterns in the ACF plot? In this ACF and PACF plot you will recognize two patterns- one significant lag at Lag 1…
What is the difference between one sample and two sample t-test? As we saw above, a 1-sample t-test compares one sample mean to a null…
Are independent and identically distributed random variables? A set of variables is independent and identically distributed (IID) if (a) the variables are all mutually independent…
What does it mean for a Markov chain to be recurrent? A recurrent state has the property that a Markov chain starting at this state…
What is bayesian model averaging? Bayesian model average: A parameter estimate (or a prediction of new observations) obtained by averaging the estimates (or predictions) of…