Useful tips for everyday
What is the out of sample R-Squared? Out-of-sample (OOS) R2 is a good metric to apply to test whether your predictive relationship has out-of-sample predictability.…
What is the effect of randomization in an experiment? Randomization reduces bias by equalising other factors that have not been explicitly accounted for in the…
How do you deal with missing values in a test set? There are multiple ways to deal with missing values. Replacing them with mean/mode. Replacing…
How do you compare two measurements? Method comparison Correlation coefficient. A correlation coefficient measures the association between two methods. Scatter plot. A scatter plot shows…
What is a uniform distribution problem? The uniform distribution is a continuous probability distribution and is concerned with events that are equally likely to occur.…
Can you do correlation on percentages? It gives a measure of the amount of variation that can be explained by the model (the correlation is…
What is the difference between ML and REML? When there is no model comparison, the difference between restricted (or residual) maximum likelihood (REML) and maximum…
Which is better fitted or residuals in linear regression? In this post we describe the fitted vs residuals plot, which allows us to detect several…
What do you do when chi-square expected count is less than 5? The conventional rule of thumb is that if all of the expected numbers…
How do you calculate optimal sample size? A good maximum sample size is usually around 10% of the population, as long as this does not…