Useful tips for everyday
Does cross sectional research collect data repeatedly over time? In a cross-sectional study you collect data from a population at a specific point in time;…
What are the properties of a Markov chain? Properties of Markov Chains: Reducibility. Markov chain has Irreducible property if it has the possibility to transit…
Why do we use maximum likelihood estimation in machine learning? It involves maximizing a likelihood function in order to find the probability distribution and parameters…
What follows the Pareto distribution? Pareto noticed that approximately 80% of Italy’s land was owned by 20% of the population. He then carried out surveys…
How do you calculate long term customer value? The simplest formula for measuring customer lifetime value is the average order total multiplied by the average…
How to calculate OLS assumptions in multiple regression? The R code is as follows. The row FracEL in the coefficients section of the output consists…
Why the sum of residuals is zero? They sum to zero, because you’re trying to get exactly in the middle, where half the residuals will…
Should predictors must be continuous in linear regression? If you specify a predictor as continuous, the software will fit a best-fitting regression line between that…
What does r2 measure in multiple regression? R-squared (R2) is a statistical measure that represents the proportion of the variance for a dependent variable that’s…
How do you compare two groups of means? Comparison of means tests helps you determine if your groups have similar means….The four major ways of…