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For example, in a study of the determinants of money demand with the unit of observation being the individual, a data point might be the values of income, wealth, age of individual, and number of dependents. Statistical inference about the population would be conducted using a statistical sample consisting of various such data points.
Given the two red points, the blue line is the linear interpolant between the points, and the value y at x may be found by linear interpolation.. In mathematics, linear interpolation is a method of curve fitting using linear polynomials to construct new data points within the range of a discrete set of known data points.
Curve fitting[ 1][ 2] is the process of constructing a curve, or mathematical function, that has the best fit to a series of data points, [ 3] possibly subject to constraints. [ 4][ 5] Curve fitting can involve either interpolation, [ 6][ 7] where an exact fit to the data is required, or smoothing, [ 8][ 9] in which a "smooth" function is ...
Interpolation. In the mathematical field of numerical analysis, interpolation is a type of estimation, a method of constructing (finding) new data points based on the range of a discrete set of known data points. [ 1][ 2] In engineering and science, one often has a number of data points, obtained by sampling or experimentation, which represent ...
Time series. In mathematics, a time series is a series of data points indexed (or listed or graphed) in time order. Most commonly, a time series is a sequence taken at successive equally spaced points in time. Thus it is a sequence of discrete-time data. Examples of time series are heights of ocean tides, counts of sunspots, and the daily ...
Data analysis is the process of inspecting, cleansing, transforming, and modeling data with the goal of discovering useful information, informing conclusions, and supporting decision-making. [ 1] Data analysis has multiple facets and approaches, encompassing diverse techniques under a variety of names, and is used in different business, science ...
Line chart. A line chart or line graph, also known as curve chart, [ 1] is a type of chart that displays information as a series of data points called 'markers' connected by straight line segments. [ 2] It is a basic type of chart common in many fields. It is similar to a scatter plot except that the measurement points are ordered (typically by ...
In statistics, an outlier is a data point that differs significantly from other observations. [ 1][ 2] An outlier may be due to a variability in the measurement, an indication of novel data, or it may be the result of experimental error; the latter are sometimes excluded from the data set. [ 3][ 4] An outlier can be an indication of exciting ...