What is Python (in Machine Learning)? Python is a programming language that is preferred for programming due to its vast features, applicability, and simplicity. The Python programming language best fits machine learning due to its independent platform and its popularity in the programming community. Machine learning is a section of Artificial Intelligence (AI) that aims…
What is Programming? Programming is the process of writing instructions for a computer to perform. It is similar to a recipe for humans. A recipe contains a list of actions for humans to create a meal, and programs are actions for computers to follow. Programming is now a handy skill for many career paths, including…
What is a Value Chain? A value chain is all the activities and processes within a company that help add value to the final product. In today’s business landscape, companies across all industries are now more competitive than ever before. Advancements in technology have made it easier for companies to take advantage of economies of…
What is Hoarding? In terms of finance, hoarding is the practice of holding or piling up of assets, namely money, goods, or securities. Preparation for future events causes individuals or companies to save up such assets. However, hoarding occurs when the act of saving goes above and beyond what is needed for immediate profit, covering…
What is Cointegration? A cointegration test is used to establish if there is a correlation between several time series in the long term. The concept was first introduced by Nobel laureates Robert Engle and Clive Granger in 1987 after British economist Paul Newbold and Granger published the spurious regression concept. Cointegration tests identify scenarios where…
What is Empirical Probability? Empirical probability, also known as experimental probability, refers to a probability that is based on historical data. In other words, empirical probability illustrates the likelihood of an event occurring based on historical data. Formula for Empirical Probability Where: Number of Times Occurred refers to the number of times a favorable event…
What is the Adjusted R-squared? The adjusted R-squared is a modified version of R-squared that accounts for predictors that are not significant in a regression model. In other words, the adjusted R-squared shows whether adding additional predictors improve a regression model or not. To understand adjusted R-squared, an understanding of R-squared is required. What is…
What is Subjective Probability? Subjective probability refers to the probability of something happening based on an individual’s own experience or personal judgment. A subjective probability is not based on market data or historical information and differs from person to person. In other words, it is created from the opinion of an individual and is not…
What is Kantian Ethics? Kantian ethics are a set of universal moral principles that apply to all human beings, regardless of context or situation. Immanuel Kant, a German philosopher, calls the principles Categorical Imperatives, which are defined by their morality and level of freedom. Who was Immanuel Kant? Immanuel Kant (Prussia, 1724-1804) was one of…
What is the Average Inventory? The average inventory is the mean value (that can be different from the median value) of an inventory during a determined period of time. The average inventory is thus a mathematical calculation. It estimates, on average, the value or the number of goods stored. Below is the formula to calculate…
