Useful tips for everyday
How do you decide what classifier to use? Here are some important considerations while choosing an algorithm. Size of the training data. It is usually…
How is historical data used to forecast? Use your historical sales data to map out the trajectory of your sales over time. You should be…
How do you calculate rank correlation coefficient between ranks? Spearman Rank Correlation: Worked Example (No Tied Ranks) The formula for the Spearman rank correlation coefficient…
What exactly is the p-value in Statsmodels OLS regression package? The p-value corresponds to the probability of observing this value of a under the null…
How do you know if significantly different from zero? THEREFORE: If we choose to reject H0 when p < 0.05, then the chance of having…
What is the covariance between two variables? Covariance measures the total variation of two random variables from their expected values. Using covariance, we can only…
What does goodness-of-fit indicate? The goodness-of-fit test is a statistical hypothesis test to see how well sample data fit a distribution from a population with…
When to omit the interaction term in logistic regression? The interaction term is clearly significant. We could manually compute the expected logits for each of…
How to describe the theory of linear mixed models? Theory of Linear Mixed Models. y = X β + Z u + ε. Where y…
Can you do at test with a sample size of 1? Depending upon the size of the effect that one wishes to detect, a small…