sattumaosuus
Sattumaosuus is a Finnish statistical term describing the portion of a variable’s variation that arises from chance or random factors, as opposed to variation explained by systematic or known factors. It corresponds to the stochastic component or error term in a model. In a typical regression Y = β0 + β1X + ε, the sattumaosuus is the error term ε, with expected value often zero and variance σ². The relative size of the sattumaosuus to the explained variation affects the model’s predictive power.
Measurement and estimation of sattumaosuus occur through residuals and variance components. In regression analysis, the sattumaosuus
Applications and interpretation: Understanding sattumaosuus helps quantify uncertainty in predictions, inform sample size decisions, and indicate
Example: Forecasting daily sales with price and promotion variables leaves a sattumaosuus representing unobserved influences such