xlrd: A library for reading data from Excel files
Definition of R-squared R-squared: R-squared is a statistic that measures how close the data points in a set are to a regression line (how well a model fits the data). It is a number between 0 and 1, with 1 indicating a perfect correlation and 0 indicating no correlation at all. It is calculated by…
Definition of Spearman’s Rank Correlation Coefficient Spearman’s Rank Correlation Coefficient: Spearman’s Rank Correlation Coefficient is a measure of the strength of a linear relationship between two sets of data. It is calculated by taking the sum of the products of the ranks of corresponding values in each data set, divided by the product of the…
Definition of Labeling Labeling: Labelling is the process of attaching a label, or name, to a particular instance of data. This can be done manually, or through automated means. Labels can be used to help identify and group data, as well as to track changes over time. How is Labeling used? Labeling is an important…
Ad Hoc Analysis is an exploratory analysis technique used to uncover patterns or relationships in a dataset. Often times this work is performed “Ad Hoc” or “On The Fly”… meaning it it done in the moment.
Definition of Joint Distribution Joint Distribution: A joint distribution is a way of representing the probability of two or more events occurring simultaneously. What is Joint Distribution used for? Joint Distribution is a statistical tool used to analyze the relationship between two or more random variables. It measures how one variable affects another in a…
Definition of Nonlinear Nonlinear: Nonlinearity means that the output of a system is not proportional to the input. In data science, this can often manifest as curved lines when graphing data points, rather than a straight line. Nonlinear systems can be more difficult to model and predict future outcomes.