# Tag Archives: Data Science

## Coefficient of Variation vs Standard Deviation Understanding the difference between coefficient of variation and standard deviation is essential for statisticians and data scientists. While both concepts measure variability in a dataset, they are calculated differently and can be used in different scenarios for better understanding. Here, we will explore the differences between these two measures to gain a better understanding of how to use them. What is Coefficient of Variation? Coefficient of Variation (CV) is a measure that is used to compare the amount of variation in a dataset relative to its mean value. It is calculated by taking the standard deviation divided by the mean, then multiplying by 100. CV can be interpreted as the …

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## Bayesian thinking & Real-life Examples Bayesian thinking is a powerful way of looking at the world, and it can be useful in many real-life situations. Bayesian thinking involves using prior knowledge to make more accurate predictions about future events or outcomes. It is based on the Bayes theorem, which states that the probability of an event occurring is determined by its prior probability combined with new information as it becomes available. It is important for data scientists to learn about Bayesian thinking because it can help them make accurate predictions and draw more meaningful insights from data. In this blog post, we will discuss Bayesian thinking and provide some examples from everyday life to illustrate …

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## True Error vs Sample Error: Difference

Understanding the differences between true error and sample error is an important aspect of data science. In this blog post, we will be exploring the difference between these two common features of statistical inference. We’ll discuss what they are and how they differ from each other, as well as provide some examples of real-world scenarios where an understanding of both is important. By the end, you should have a better grasp of the differences between true error and sample error. In case you are a data scientist, you will want to understand the concept behind the true error and sample error. These concepts are key to understand for evaluating a …

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## Confidence Intervals Formula, Examples In this post, you will learn about the statistics concepts of confidence intervals in relation to machine learning models with the help of an example and Python code examples. You will learn about how to interpret confidence intervals, what are formulas for confidence intervals with the help of examples. When you get a hypothesis function by training a machine learning classification model, you evaluate the hypothesis/model by calculating the classification error. The classification error is calculated on the sample of the data used for training the model. However, does this classification error for the sample (sample error) also represent (same as) the classification error of the hypothesis/model for the entire …

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## Support Vector Machine (SVM) Python Example In this post, you will learn about the concepts of Support Vector Machine (SVM)  with the help of  Python code example for building a machine learning classification model. We will work with Python Sklearn package for building the model. As data scientists, it is important to get a good grasp on SVM algorithm and related aspects. What is Support Vector Machine (SVM)? Support vector machine (SVM) is a supervised machine learning algorithm that can be used for both classification and regression tasks. At times, SVM for classification is termed as support vector classification (SVC) and SVM for regression is termed as support vector regression (SVR). In this post, we will learn about SVM …

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## Hidden Markov Models: Concepts, Examples Hidden Markov models (HMMs) are a type of statistical modeling that has been used for several years. They have been applied in different fields such as medicine, computer science, and data science. The Hidden Markov model (HMM) is the foundation of many modern-day data science algorithms. It has been used in data science to make efficient use of observations for successful predictions or decision-making processes. This blog post will cover hidden Markov models with real-world examples and important concepts related to hidden Markov models. What are Markov Models? Markov models are named after Andrey Markov, who first developed them in the early 1900s. Markov models are a type of probabilistic …

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## Pearson Correlation Coefficient & Statistical Significance In this post, we will discuss what Pearson’s r represents, how it works mathematically, its interpretation, statistical significance, and importance for making decisions in real-world applications such as business forecasting or medical diagnosis. We will also explore some examples of using Pearson’s r with real data sets so you can see how this powerful statistic works in action. As a data scientist, it is very important to understand Pearson’s r and its implications for making decisions based on data. What is Pearson Correlation Coefficient? Pearson correlation coefficient is a statistical measure that describes the linear relationship between two variables. It is typically represented by the symbol ‘r’. Pearson correlation coefficient …

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## Logistic Regression Concepts, Python Example In this blog post, we will discuss the logistic regression machine learning algorithm with a python example. Logistic regression is a type of regression algorithm that is used to predict the probability of occurrence of an event. It is often used in machine learning applications. In this tutorial, we will use python to implement logistic regression for binary classification problems.  What is Logistic Regression? Logistic regression is a machine learning algorithm used for classification problems. That is, it can be used to predict whether an instance belongs to one class or the other. For example, it could be used to predict whether a person is male or female, based on …

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## Types & Uses of Moments in Statistics In statistics, moments are measures of the shape and variability of a data set. They are used to describe the location and dispersion of the data. There are several types of moments that can be calculated, each providing different information about the data set. Let’s take a look at some of these moments and how they can be used in statistical analysis. What are moments in Statistics and what are their types? In statistics, moments are an important tool used to measure the characteristics of a distribution. Moments can provide useful information about the spread, shape, and center of a distribution.  The following are different types of moments: First moment …

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## Two independent samples t-tests: Formula & Examples In statistics, the independent samples t-test, also known as unpaired two samples t-test, is a type of hypothesis test that can be used to determine whether the means of two independent groups are significantly different given the two samples are independent and have normal distributions. As data scientists, it is important to understand how to use the two sample t-test for independent samples so that you can correctly analyze your data. In this blog post, we will discuss the two samples t-test for independent samples in detail, including the formula and examples. What is independent-samples or unpaired two samples T-test? The independent samples T-test is defined as statistical hypothesis testing …

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## Levene Test & Statistics: Concepts & Examples The Levene test is used to test for equality of variance in a dataset. It is used in statistical analysis to determine if two or more samples have similar variances. If the results of the test indicate that the samples do not have similar variances, then it means that one sample has a higher variance than the other and should be treated as an outlier. In this blog post, we’ll take a look at what exactly the Levene test is, how it works, and provide some examples of how it can be applied. As data scientists, it will be important for us to understand the Levene test in order to …

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## Overfitting & Underfitting in Machine Learning The performance of the machine learning models depends upon two key concepts called underfitting and overfitting. In this post, you will learn about some of the key concepts of overfitting and underfitting in relation to machine learning models. In addition, you will also get a chance to test your understanding by attempting the quiz. The quiz will help you prepare well for interview questions in relation to underfitting & overfitting. As data scientists, you must get a good understanding of the overfitting and underfitting concepts.  Introduction to Overfitting & Underfitting Assuming an independent and identically distributed (I.I.d) dataset, when the prediction error on both the training and validation dataset is …

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## Python – Creating Scatter Plot with IRIS Dataset In this blog post, we will be learning how to create a Scatter Plot with the IRIS dataset using Python. The IRIS dataset is a collection of data that is used to demonstrate the properties of various statistical models. It contains information about 50 observations on four different variables: Petal Length, Petal Width, Sepal Length, and Sepal Width. As data scientists, it is important for us to be able to visualize the data that we are working with. Scatter plots are a great way to do this because they show the relationship between two variables. In this post, we have plotted and explored how how Petal Length and Sepal Length …

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## Supervised & Unsupervised Learning Difference Supervised and unsupervised learning are two different common types of machine learning tasks that are used to solve many different types of business problems. Supervised learning uses training data with labels to create supervised models, which can be used to predict outcomes for future datasets. Unsupervised learning is a type of machine learning task where the training data is not labeled or categorized in any way. For beginner data scientists, it is very important to get a good understanding of the difference between supervised and unsupervised learning. In this post, we will discuss how supervised and unsupervised algorithms work and what is difference between them. You may want to check …

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## Logit vs Probit Models: Differences, Examples Logit and probit models are statistical models that are used to model binary or dichotomous dependent variables. This means that the outcome of interest can only take on two possible values. In most cases, these models are used to predict whether or not something will happen. For example, a business might want to know if a particular advertising campaign will lead to an increase in sales. In this blog post, we will explain what logit and probit models are, and we will provide examples of how they can be used. As data scientists, it is important to understand the concepts of logit and probit models and when should they be … 