Glossary of Common Terms: Difference between revisions
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* '''Δ''' -- the Greek letter ''delta'', which is used in mathematics to notate ''change''. | * '''Δ''' -- the Greek letter ''delta'', which is used in mathematics to notate ''change''. | ||
* '''~''' -- is a symbol used throughout this site to indicate ''"approximately"'' | * '''~''' -- is a symbol used throughout this site to indicate ''"approximately"'' | ||
* '''association''' -- a generic term [http://amerimetrics.com/index.php?title=How_to_interpret_data#Key_Terms:~:text=misinterpreted%20is%20provided.-,Key,-Terms%5Bedit more] | * '''association''' -- a generic term, simply based on observations, meaning one variable's change appears to reliably coincide with another variables change. There is no mathematical calculation or statistical basis, and causation cannot be inferred [http://amerimetrics.com/index.php?title=How_to_interpret_data#Key_Terms:~:text=misinterpreted%20is%20provided.-,Key,-Terms%5Bedit more] | ||
* '''causation''' -- | * '''causation''' -- [http://amerimetrics.com/index.php?title=How_to_interpret_data#Key_Terms:~:text=misinterpreted%20is%20provided.-,Key,-Terms%5Bedit more] | ||
* '''coefficient of determination''' -- [http://amerimetrics.com/index.php?title=How_to_interpret_data#Key_Terms:~:text=misinterpreted%20is%20provided.-,Key,-Terms%5Bedit more] | * '''coefficient of determination r-squared''' -- the next level of correlation, this is the square of the ''Pearson Correlation Coefficient'' and it is interpreted as how much of the change in variable ''b'' can be explained by a unity of change in variable ''a''. [http://amerimetrics.com/index.php?title=How_to_interpret_data#Key_Terms:~:text=misinterpreted%20is%20provided.-,Key,-Terms%5Bedit more] | ||
* '''correlation''' -- [http://amerimetrics.com/index.php?title=How_to_interpret_data#Key_Terms:~:text=misinterpreted%20is%20provided.-,Key,-Terms%5Bedit more] | * '''correlation''' -- a mathematical relationship between two variables, from 1 to -1 | ||
** 1 means that there is a perfect positive relationship: variable a increases and variable b also increase | |||
**-1 means there is a perfect negative or inverse relationship: variable a increase and variable b decreases | |||
**0 means there is no correlation: an increase or decrease in variable a does not reliably coincide with either an increase or decrease in variable b | |||
**[http://amerimetrics.com/index.php?title=How_to_interpret_data#Key_Terms:~:text=misinterpreted%20is%20provided.-,Key,-Terms%5Bedit more] | |||
* '''gross domestic product (GDP)''' -- The most widely accepted measurement of the health of a nation's economy. | * '''gross domestic product (GDP)''' -- The most widely accepted measurement of the health of a nation's economy. | ||
** To learn more, see: | ** To learn more, see: | ||
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*** [[US Inflation]] | *** [[US Inflation]] | ||
*** [https://www.investopedia.com/terms/i/inflation.asp Investopedia] | *** [https://www.investopedia.com/terms/i/inflation.asp Investopedia] | ||
* '''Pearson Coefficient''' -- [http://amerimetrics.com/index.php?title=How_to_interpret_data#Key_Terms:~:text=misinterpreted%20is%20provided.-,Key,-Terms%5Bedit more] | * '''Pearson Coefficient, r''' -- most frequently used measurement, between 1 and -1 of correlation [http://amerimetrics.com/index.php?title=How_to_interpret_data#Key_Terms:~:text=misinterpreted%20is%20provided.-,Key,-Terms%5Bedit more] | ||
* '''YOY''' -- means ''year over year'', and is an abbreviation frequently used to measure growth from one year to the next. For example, if you sold 100 apples in 2020 and 110 apples in 2021, your 2021 YOY change would be ''10 apples'' or a ''10% increase''. | * '''YOY''' -- means ''year over year'', and is an abbreviation frequently used to measure growth from one year to the next. For example, if you sold 100 apples in 2020 and 110 apples in 2021, your 2021 YOY change would be ''10 apples'' or a ''10% increase''. | ||
* '''YOY Δ''' -- similar to '''YOY''', it means ''year over year change''. | * '''YOY Δ''' -- similar to '''YOY''', it means ''year over year change''. | ||
Latest revision as of 13:38, 26 November 2024
- GDP -- see gross domestic product
- Δ -- the Greek letter delta, which is used in mathematics to notate change.
- ~ -- is a symbol used throughout this site to indicate "approximately"
- association -- a generic term, simply based on observations, meaning one variable's change appears to reliably coincide with another variables change. There is no mathematical calculation or statistical basis, and causation cannot be inferred more
- causation -- more
- coefficient of determination r-squared -- the next level of correlation, this is the square of the Pearson Correlation Coefficient and it is interpreted as how much of the change in variable b can be explained by a unity of change in variable a. more
- correlation -- a mathematical relationship between two variables, from 1 to -1
- 1 means that there is a perfect positive relationship: variable a increases and variable b also increase
- -1 means there is a perfect negative or inverse relationship: variable a increase and variable b decreases
- 0 means there is no correlation: an increase or decrease in variable a does not reliably coincide with either an increase or decrease in variable b
- more
- gross domestic product (GDP) -- The most widely accepted measurement of the health of a nation's economy.
- To learn more, see:
- inflation -- generally defined as a decline in purchasing power over time, is the rise in the price of goods and services relative to a currency. Related terms are: deflation and stagflation
- To learn more, see:
- Pearson Coefficient, r -- most frequently used measurement, between 1 and -1 of correlation more
- YOY -- means year over year, and is an abbreviation frequently used to measure growth from one year to the next. For example, if you sold 100 apples in 2020 and 110 apples in 2021, your 2021 YOY change would be 10 apples or a 10% increase.
- YOY Δ -- similar to YOY, it means year over year change.
