Categories
Investments glossary

Goodness-Of-Fit

The goodness of fit test is a statistical hypothesis test to see how well sample data fit a distribution from a population with a normal distribution. Put differently, this test shows if your sample data represents the data you would expect to find in the actual population or if it is somehow skewed. Goodness-of-fit establishes the discrepancy between the observed values and those that would be expected of the model in a normal distribution case.

Click to rate this post!
[Total: 0 Average: 0]

Leave a Reply

Your email address will not be published. Required fields are marked *