Definition of Logistic Regression Logistic regression is a machine learning algorithm used for classification and regression analysis. It is a type of linear regression, where the outcome variable is categorical rather than continuous. Logistic regression is used to predict the probability of a particular event occurring, such as whether or not a customer will churn….
Definition of Logarithm The logarithm is a mathematical function that calculates the power to which a base number must be raised to produce a given number. It is written as log(x) and is read “log of x.” How is Logarithm used? Logarithm is a mathematical operation used to calculate the power or exponent that a…
Definition of Lift Lift is a measure of how much a model predicts the value of a target variable relative to the prediction of the same target variable by a random guess. Lift is often used as a measure of how good a model is at discriminating between different groups. How is Lift used? Lift…
Definition of Linear Regression Linear Regression: Linear Regression is a statistical technique that helps us understand how one variable (the dependent variable) changes when other variables (the independent variables) change. It does this by fitting a line through a set of data points, and then using the line to predict the value of the dependent…
Definition of Linear Algebra Linear Algebra: Linear Algebra is the study of mathematical problems that can be best explained in terms of linear equations. It is a powerful tool for solving problems in physics and engineering, and has many applications in data science. How is Linear Algebra used? Linear Algebra is widely used in the…
Definition of Level of Detail Level of Detail: A level of detail (LOD) is a measure of how much information is included in a data set. Larger data sets typically have more detail, while smaller data sets may only include basic information. When working with data, it is important to understand the level of detail…
Definition of Leakage Leakage: Leakage is when data that should be confidential or private is released to unauthorized individuals. What are the impacts of Leakage? The impacts of data leakage can be far-reaching and very damaging for individuals and organizations alike. Leaked data may include personal information, such as names, addresses, phone numbers, financial details…
Definition of Latin Hypercube Sampling Latin Hypercube Sampling: Latin Hypercube Sampling (LHS) is a method for constructing a point sample from a probability distribution. The most common use case for LHS is in Monte Carlo simulations, where the goal is to approximate the distribution of a function by taking repeated samples from it. In order…
Definition of Latent Variable Latent Variable: Latent Variable: In statistics, a latent variable is a hypothetical construct that explains the observed variability in a set of measured variables. Latent variables are unobservable or hidden variables that cannot be directly measured, but rather must be inferred from other observed variables. How is a Latent Variable used?…
Definition of Latent Dirichlet Allocation Latent Dirichlet Allocation: Latent class analysis (LCA) is a technique used in statistics and data mining for the analysis of categorical data. LCA is a type of cluster analysis that seeks to identify a finite number of unobserved classes (clusters) within a population. The detected classes are latent, meaning they…