Glossary of Common Terms
From Ameri*Metrics
- 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 -- 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 -- 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.
