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Questions that seek a conceptual or non-mathematical understanding of statistics.

0 votes

Explaining multicollinearity in layman's terms

This may be too layme ... In layman's terms "too many cooks (input series) can spoil the broth"
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1 vote

Visual explanation of forecasting algorithm

Since the amount of time required to deaal with incoming work may be dependent on the existing amount of work or memory in the arrival of older work , one might want to quantify that. Unusual values o …
IrishStat's user avatar
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-3 votes

Seeking certain type of ARIMA explanation

An ARIMA model is simply a weighted average. It answers the double question; How many period (k )should I use to compute a weighted average and Precisely what are the k weights It answers th …
IrishStat's user avatar
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33 votes

Seeking certain type of ARIMA explanation

I will try and respond to the gentle urging of whuber to simply “respond to the question” and stay on topic. We are given 144 monthly readings of a series called “The Airline Series” . Box and Jenkins …
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