Keep in mind that the big data analytical processes and models can be both human- and machine-based. Big data analytical capabilities include statistics, spatial analysis, semantics, interactive discovery, and visualization. Using analytical models, you can correlate different types and sources of data...
Customer acquisition cost (CAC) is the cost of resources you spend to acquire new customers. If the customers churn before you get your money’s worth, you face losses. So, ultimately a low churn rate would mean that the money you spend on acquiring customers is not wasted....
This is just the tip of the iceberg on these methods, and it's also limited by my understanding of both R and statistics. From what I understand, a lot of these methods differ by either a Type I, Type II, or Type III ANOVA, as well as how lmer vs lme...
Outliers can skew the primitive statistics used to separate classes in LDA, so it is preferable to remove them. Since LDA assumes that each input variable has the same variance, it is always better to standardize your data before using an LDA model. Keep the mean to be 0 and the standard...
When reporting the result of an independent t-test, you need to include the t-statistic value, the degrees of freedom (df) and the significance value of the test (p-value). The format of the test result is: t(df) = t-statistic, p = significance value. Therefore, for the example ...
In this version, a pipeline is used to encapsulate the preprocessing step, which is then fit and evaluated on the training set only. In this case,StandardScaleris used as a preprocessing step, which standardizes the feature by subtracting the mean and scaling to unit variance. When you call...
Suppose in testing: H0: mu = 4 against H1: mu lessthan 4, the test statistics is t = -2.998 and the degrees of freedom is df = 7. Calculate the p-value and decide if the null hypothesis should be reje A researcher condu...
Inflationis one of the biggest factors that affect people’s compensation. Put simply, this is the increase in prices within theeconomyas a whole. Although it seems negative, low but constant inflation is a normal part of how the economy functions. But it can be detrimental to people when i...
curve for all values of statistics that are at least as far from the reference value as the observed value is, relative to the total area under the probability distribution curve. Standard deviations, which quantify the dispersion of data points from the mean, are instrumental in this ...
The t-test is a test used for hypothesis testing in statistics. Calculating a t-test requires the difference between the mean values from each data set, the standard deviation of each group, and the number of data values. T-tests can be dependent or independent. ...