Goodness of Fit is a statistical analysis used to determine how well a model's predicted values match the observed data. It evaluates the discrepancy between observed and expected frequencies, providing a measure to assess the model's accuracy and reliability in reflecting real-world scenarios.

Goodness Of Fit

Goodness of Fit

Statistical analysis involves collecting, exploring, and presenting large amounts of data to discover underlying patterns and trends. It is essential for making informed decisions and predictions in various fields, such as economics, medicine, and social sciences.

statistical analysis

predicted values

Observed data refers to information collected through direct measurement or observation of a phenomenon, often used as the foundation for statistical analysis and empirical research. It is crucial for validating hypotheses and building models that reflect real-world conditions and behaviors.

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