What is Marital Property? The legal term marital property refers to the property that is acquired by either or both parties during the course of a marriage. Property that is held by an individual part of a married couple is considered to be separate from marital property. Similarly, inheritance or any third party gifts made…
What is Market Basket? The term market basket refers to a bundle or group of products that can be indicators of the overall performance of a specific industry, sector, or market segment. Market baskets can be classified such that they enable traders and investors to track the performance of a given sector. The most common…
What is Python (in Machine Learning)? Python is a programming language that is preferred for programming due to its vast features, applicability, and simplicity. The Python programming language best fits machine learning due to its independent platform and its popularity in the programming community. Machine learning is a section of Artificial Intelligence (AI) that aims…
What is Programming? Programming is the process of writing instructions for a computer to perform. It is similar to a recipe for humans. A recipe contains a list of actions for humans to create a meal, and programs are actions for computers to follow. Programming is now a handy skill for many career paths, including…
What is a Value Chain? A value chain is all the activities and processes within a company that help add value to the final product. In today’s business landscape, companies across all industries are now more competitive than ever before. Advancements in technology have made it easier for companies to take advantage of economies of…
What is Hoarding? In terms of finance, hoarding is the practice of holding or piling up of assets, namely money, goods, or securities. Preparation for future events causes individuals or companies to save up such assets. However, hoarding occurs when the act of saving goes above and beyond what is needed for immediate profit, covering…
What is Cointegration? A cointegration test is used to establish if there is a correlation between several time series in the long term. The concept was first introduced by Nobel laureates Robert Engle and Clive Granger in 1987 after British economist Paul Newbold and Granger published the spurious regression concept. Cointegration tests identify scenarios where…
What is Empirical Probability? Empirical probability, also known as experimental probability, refers to a probability that is based on historical data. In other words, empirical probability illustrates the likelihood of an event occurring based on historical data. Formula for Empirical Probability Where: Number of Times Occurred refers to the number of times a favorable event…
What is the Adjusted R-squared? The adjusted R-squared is a modified version of R-squared that accounts for predictors that are not significant in a regression model. In other words, the adjusted R-squared shows whether adding additional predictors improve a regression model or not. To understand adjusted R-squared, an understanding of R-squared is required. What is…
What is Subjective Probability? Subjective probability refers to the probability of something happening based on an individual’s own experience or personal judgment. A subjective probability is not based on market data or historical information and differs from person to person. In other words, it is created from the opinion of an individual and is not…
