Useful tips for everyday
What is partial dependence? A partial dependence (PD) plot depicts the functional relationship between a small number of input variables and predictions. They show how…
What does it mean when a result is statistically significant? “Statistical significance helps quantify whether a result is likely due to chance or to some…
Do errors need to be normally distributed? Yes, you should check normality of errors AFTER modeling. In linear regression, errors are assumed to follow a…
What tools should I learn for data analytics? 2) What Tools Do Data Analysts Use? Business intelligence tools. BI tools are one of the most…
What happens when Lambda equals 1 in Box Cox transformation? Notice what happens when lambda equals 1. In that case, our data shifts down but…
How do you investigate correlation between two variables? The Pearson correlation coefficient (named for Karl Pearson) can be used to summarize the strength of the…
Does weak stationarity imply strong stationarity? Weak stationarity does not imply strong stationarity. Why does stationarity matter in time series analysis? Stationarity is an important…
What test is used for proportions? The single proportion (or one-sample) binomial test is used to compare a proportion of responses or values in a…
How to estimate the density of a PDF? We begin with the estimation of a univariate PDF in Sections 1.1 through 1.3, turn to the…
Does an independent variable influence the dependent variable? Independent variables are what we expect will influence dependent variables. A Dependent variable is what happens as…