Quantile
Definition of Quantile
Quantile: Quantile refers to a specific percentage of data that is below and above a given value.
Quantile: Quantile refers to a specific percentage of data that is below and above a given value.
Definition of Interpretability Interpretability: Interpretability is a measure of how easily a model’s predictions can be explained to humans. Models that are easy to interpret are more likely to be trusted and used in decision-making processes. Why does Interpretability matter? Interpretability is an important factor in how effective data science and machine learning tools are….
Definition of Insights Insights: Insights are the findings or conclusions that are drawn from data. Insights can be used to make better business decisions, understand customer behavior, and track progress on strategic initiatives. What are the types of Insights a business or organization would hope to gain from analyzing data? Data-driven insights can be used…
Definition of Joint Probability Joint Probability: Joint probability is a measure of the likelihood that two or more events will occur simultaneously. It is calculated by multiplying the individual probabilities of each event. For example, if there is a 50% chance of rain on any given day and a 40% chance of a thunderstorm, the…
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…
Definition of Quantitative Quantitative: Quantitative means numerical. Quantitative data is data that can be measured or counted. Quantitative refers to the use of numbers and mathematical models to understand and analyze data. It is a branch of statistics that deals with the measurement, analysis, interpretation, presentation, and organization of data.