Statistical application is used a all the brancnces. for example business econocic social etc Statistical application is used a all the brancnces. for example business econocic social etc
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The geometric mean is used in statistical analysis and data interpretation because it provides a more accurate representation of the central tendency of a set of values when dealing with data that is positively skewed or when comparing values that are on different scales. It is especially useful when dealing with data that involves growth rates, ratios, or percentages.
When developing statistical models, the term `out-of-sample performance' refers to the model's performance (i.e. accuracy, predictive power etc.) on data that was not in the sample used to calibrate the model's parameters.
The geometric mean is appropriate to use in statistical analysis when dealing with data that is positively skewed or when comparing values that are on a multiplicative scale, such as growth rates or investment returns.
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