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In statistics, the 68–95–99.7 rule, also known as the empirical rule, and sometimes abbreviated 3ss, is a shorthand used to remember the percentage of values that lie within an interval estimate in a normal distribution: 68%, 95%, and 99.7% of the values lie within one, two, and three standard deviations of the mean, respectively.
The rationale is simple: If you need $50,000 for a kitchen renovation and you have a mortgage for $300,000 at 3 percent, you probably don’t want to take out a new loan at 7 percent.
Sensitivity (true positive rate) is the probability of a positive test result, conditioned on the individual truly being positive. Specificity (true negative rate) is the probability of a negative test result, conditioned on the individual truly being negative. If the true status of the condition cannot be known, sensitivity and specificity can ...
In probability theory and statistics, the coefficient of variation ( CV ), also known as normalized root-mean-square deviation (NRMSD), percent RMS, and relative standard deviation ( RSD ), is a standardized measure of dispersion of a probability distribution or frequency distribution. It is defined as the ratio of the standard deviation to the ...
In signal processing, control theory, electronics, and mathematics, overshoot is the occurrence of a signal or function exceeding its target. Undershoot is the same phenomenon in the opposite direction. It arises especially in the step response of bandlimited systems such as low-pass filters. It is often followed by ringing, and at times ...
Less-than sign. The less-than sign is a mathematical symbol that denotes an inequality between two values. The widely adopted form of two equal-length strokes connecting in an acute angle at the left, <, has been found in documents dated as far back as the 1560s. In mathematical writing, the less-than sign is typically placed between two values ...
Bioavailability. In pharmacology, bioavailability is a subcategory of absorption and is the fraction (%) of an administered drug that reaches the systemic circulation. [1] By definition, when a medication is administered intravenously, its bioavailability is 100%. [2] [3] However, when a medication is administered via routes other than ...
Probability of precipitation ( PoP) is a commonly used term referring to the likelihood of precipitation falling in a particular area over a defined period of time, which is commonly a day, half day, or hour. The PoP measure is meaningless unless it is associated with an interval of time. Forecasts commonly use PoP defined over 12-hour periods ...