Useful tips for everyday
Is Naive Bayes bad if yes under what aspects? One of the disadvantages of Naïve-Bayes is that if you have no occurrences of a class…
What are the external factors of forecasting? External factors affecting business include competition, customer demand, local unemployment rates, governmental regulations and environmental conditions. These factors…
Can a highly skewed variable be used in logistic regression? The description of the variable is listed below: The data is highly right skewed. As…
What is a closed form distribution? An equation is said to be a closed-form solution if it solves a given problem in terms of functions…
What is the purpose of multilevel modeling? Multilevel models recognise the existence of such data hierarchies by allowing for residual components at each level in…
What is the difference between estimation and prediction? Estimation is after the occurrence of the event i.e. posterior probability. Prediction is a kind of estimation…
What is predictive model performance evaluation? Performance evaluation plays a dominant role in the technique of predictive modelling. The performance of a predictive model is…
What test checks vitamin D levels? Your doctor can order a blood test to measure your levels of vitamin D. There are two types of…
Does logistic regression work with multiclass? Logistic regression, by default, is limited to two-class classification problems. Some extensions like one-vs-rest can allow logistic regression to…
What does a random Intercept Model Look Like? The random part is random in the same way that the error term of the single level…