Predictive Modeling: Predictive modeling is a technique used in data science to make predictions about future events. It involves building a model that can predict the likelihood of an event occurring based on certain factors.
Definition of K-means clustering K-means clustering: K-means clustering is a data mining algorithm used to partition a set of data points into k clusters. Data is divided into clusters based on the similarities of the points within each cluster. This algorithm is often used to segment customers into different groups for marketing purposes. How is…
Definition of Euclidean Distance Euclidean Distance: The Euclidean distance between two points is the length of the straight line between them. What is Euclidean Distance used for? Euclidean Distance is a mathematical tool used to measure the distance between two points in a multidimensional space. It is also known as the “straight line” or “as-the-crow-flies”…
Definition of Observational Study Observational Study: Observational study is a study in which data is collected without affecting the participants.
Definition of Eigenvector Eigenvector: An eigenvector is a particular type of vector that has a special property: it’s multiplied by a certain matrix (the “eigenvalue matrix”) in such a way that the result is always the same. What is an Eigenvector used for? An Eigenvector is a special type of vector used in linear algebra…
Definition of Data Mining Data Mining: Data mining is the process of extracting valuable information from large data sets. This information can be used to make decisions about business operations, product development, and other strategic initiatives. Data mining involves using sophisticated algorithms to identify patterns and trends in data. What is Data Mining used for?…
Definition of Exact p-value Exact p-value: The Exact p-value is the probability of obtaining a test statistic at least as extreme as the one that was actually observed, assuming that the null hypothesis is true. What is Exact p-value used for? Exact p-values are used to help assess the strength of evidence for a hypothesis…