While outside of the field of statistics, you will generally only hear the term “average,” in statistics this is a non-specific term, and can refer to the mean, median, mode, as well as other “averages,” or measures of central tendency. Most typically, the “average” will simply refer to the mean, this being calculated as the Read More >

Curve fitting fits a series of equations, or models, to a set of data, which can then be extrapolated in order to predict values outside of the range of the present data. Most typically, this is used for the forecasting of future data using present and past data. The US is currently (as of November Read More >