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HypothesisTesting : Statistical Models help test hypotheses by analysing relationships between variables. These models help in hypothesistesting and determining the relationships between variables. Bayesian models and hypothesistests (like t-tests or chi-square tests) are examples of inferential models.
Modeling & Algorithms: Applying statistical models (like regression, classification, clustering) or Machine Learning algorithms to identify deeper patterns, make predictions, or classify data points. Pattern & Trend Spotting: Makes it easier to identify relationships, trends over time, clusters, and anomalies.
Concepts such as probability distributions, hypothesistesting, and regression analysis are fundamental for interpreting data accurately. This includes supervised learning techniques like linear regression and unsupervised learning methods like clustering.
Importance of Data Science Data Science is crucial in decision-making and businessintelligence across various industries. Bayesian Statistics: A statistical inference approach that uses Bayes’ theorem to update the probability of a hypothesis as more evidence becomes available.
Then, I would use clustering techniques such as k-means or hierarchical clustering to group customers based on similarities in their purchasing behaviour. It is essential to provide a unified data view and enable businessintelligence and analytics. You’re tasked with predicting sales for a retail store.
Hypothesistesting and regression analysis are crucial for making predictions and understanding data relationships. Unsupervised Learning techniques such as clustering and dimensionality reduction to discover patterns in data. Comprehensive Coverage: Encompasses various topics from Machine Learning to businessintelligence.
In the final stage, the results are communicated to the business in a visually appealing manner. This is where the skill of data visualization, reporting, and different businessintelligence tools come into the picture. What is the p-value and what does it indicate in the Null Hypothesis?
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