Have you ever dreamt of being rich? What would you buy if you had millions of rupees? And what if you could have millions of rupees by just spending under 50 rupees? Seems like a dream but there is a possibility it happening. If you are thinking about a lottery, you are absolutely right. For […]
What is the Probability of Winning a Lottery Read More »
Contributed by: Shailendra Singh LinkedIn Profile: https://www.linkedin.com/in/shailendra-singh-a817802/ An important skill for people working in Data Science is to have a good understanding of the fundamental concepts of descriptive statistics and probability theory. This includes the key concepts of probability distribution, statistical significance, hypothesis testing, and regression. In practice, a simple analysis using R or scikit-learn
What is Bernoulli distribution? Bernoulli Distribution Explained Read More »
Contributed by: Shreya Shetty LinkedIn Profile: https://www.linkedin.com/in/shreya-shetty-9a070792/ If you’re looking for an easy interpretation of Poisson Distribution, you have come to the right place. Before we get into the details, this is not another formula-based article. When I started my journey in statistics, I wanted every derivation to have a relatable story behind it. I
3 W’s of Poisson Distribution: What, Why and Where? Read More »
Contributed by: Priya Krishnan LinkedIn Profile: https://www.linkedin.com/in/priya-srinivasan-77b081176/ For all types of Business, whether it is small or large there is a dire need for prediction/estimation. (in terms of Sales, Costs, demand, supply etc). This can be achieved through statistical analysis of underlying data. A probability distribution can be a great tool for such estimations. It
Understanding Probability Distribution and Definition Read More »
Introduction Statistics has a significant part in the field of data science. It helps us in the collection, analysis and representation of data either by visualisation or by numbers into a general understandable format. Generally, we divide statistics into two main branches which are Descriptive Statistics and Inferential Statistics. In this article, we will discuss
Inferential Statistics – An Overview | Introduction to Inferential Statistics Read More »
