- #1
mkir
- 10
- 0
Define "variation" to a beginner
How do you define the word "variation" "variability" to a complete beginner, like myself.
For Example, I understand 'R' explains how strong the linear relationship between the change in X and Y. But sometimes, let's Say R=.91, people will say the linear trend model explains more than 91% of the variation in sales.
Another Case is the Mean squared error (MSE) is a measure of variability in the forecast errors.
Hope someone can use 'SIMPLE' words to explain it to me.
Thanks a lot!
How do you define the word "variation" "variability" to a complete beginner, like myself.
For Example, I understand 'R' explains how strong the linear relationship between the change in X and Y. But sometimes, let's Say R=.91, people will say the linear trend model explains more than 91% of the variation in sales.
Another Case is the Mean squared error (MSE) is a measure of variability in the forecast errors.
Hope someone can use 'SIMPLE' words to explain it to me.
Thanks a lot!