MINITAB : MINITAB is a statistical software that is commonly used in data analysis and quality improvement projects. It is used by researchers, statisticians, and engineers to help them interpret data and make informed decisions. One example of how MINITAB can be used is in the analysis of experimental data. For instance, a researcher may […]

Minimum volume ellipsoid : A minimum volume ellipsoid is a mathematical concept that describes the smallest possible ellipsoid that can fully enclose a given set of points in space. This concept is often used in various fields, such as data analysis and computer graphics, to find the most compact representation of a group of data […]

Minimum distance probability (MDP) : Minimum distance probability (MDP) is a method of discriminant analysis, which is a way to classify items into different groups or categories based on their characteristics. In MDP, the goal is to find the group that is most likely to be the correct one for a given item. To do […]

Minimum chi-squared estimator : The minimum chi-squared estimator is a statistical method used to estimate the parameters of a population based on a sample. This method is particularly useful when dealing with large datasets and complex models, as it allows for the calculation of accurate parameter estimates with minimal computational effort. One example of the […]

Minimum average variance estimation (MAVE) method : Minimum average variance estimation (MAVE) is a method for reducing the dimensionality of a dataset. It does this by finding the optimal linear combination of the original variables in the dataset, such that the resulting new set of variables has the minimum average variance. To understand MAVE, it’s […]

Minimum aberration criterion : The minimum aberration criterion is a method used to evaluate and compare the performance of statistical estimators. It is based on the idea that the best estimator is the one that minimizes the expected value of the deviation or “aberration” between the estimator and the true value of the parameter being […]

Minimax rule : The minimax rule is a decision-making strategy that is often used in games with two players, such as chess or tic-tac-toe. It involves each player trying to maximize their own rewards while minimizing their opponent’s rewards. This is done by making the best possible move at each turn, based on the current […]

Midvariance : Midvariance is a statistical measure that is used to indicate the average spread or dispersion of a set of data around the middle or median value. It is calculated by taking the average of the squared differences between each data point and the median value. This measure is useful for identifying and analyzing […]

Mid-range : Mid-range, also known as the mid-maximum range, is a measure of central tendency in statistics. It is calculated by taking the average of the highest and lowest values in a dataset. This measure is useful in identifying the “middle” of a dataset and can provide valuable insights into the overall distribution of the […]

Mid P-value : The mid P-value is a statistical concept that is used to evaluate the significance of a hypothesis test. It is calculated by taking the average of the two-sided P-value, which is the probability of obtaining a test statistic that is at least as extreme as the one observed, given that the null […]