Uniform Distribution
What is Uniform Distribution? In statistics, uniform distribution is a term used to describe a form of probability distribution where every possible outcome has an equal likelihood of happening. The probability is constant since each variable has equal chances of being the outcome. Examples of Uniform Distribution Uniform distribution is the simplest statistical distribution. The...
Tree Diagram
What is a Tree Diagram? A tree diagram is used in mathematics – more specifically, in probability theory – as a tool to help calculate and provide a visual representation of probabilities. The outcome of a certain event can be found at the end of each branch in the tree diagram. Types of Events There...
Autocorrelation
What is Autocorrelation? Autocorrelation refers to the degree of correlation of the same variables between two successive time intervals. It measures how the lagged version of the value of a variable is related to the original version of it in a time series. Autocorrelation, as a statistical concept, is also known as serial correlation. It...
Dependent Events vs Independent Events
What are Dependent Events vs Independent Events? In mathematics, specifically statistics, events are often classified as dependent or independent. As a basic rule of thumb, the existence or absence of an event can provide clues about other events. Read on to find out more about dependent events vs independent events. In general, an event is deemed...
Boosting
What is Boosting? Boosting is an algorithm that helps in reducing variance and bias in a machine learning ensemble. The algorithm helps in the conversion of weak learners into strong learners by combining N number of learners. Boosting also can improve model predictions for learning algorithms. The weak learners are sequentially corrected by their predecessors,...
Multiple Linear Regression
What is Multiple Linear Regression? Multiple linear regression refers to a statistical technique that is used to predict the outcome of a variable based on the value of two or more variables. It is sometimes known simply as multiple regression, and it is an extension of linear regression. The variable that we want to predict...
LASSO
What is LASSO? LASSO, short for Least Absolute Shrinkage and Selection Operator, is a statistical formula whose main purpose is the feature selection and regularization of data models. The method was first introduced in 1996 by Statistics Professor Robert Tibshirani. LASSO introduces parameters to the sum of a model, giving it an upper bound that...
Decision Tree
What is a Decision Tree? A decision tree is a support tool with a tree-like structure that models probable outcomes, cost of resources, utilities, and possible consequences. Decision trees provide a way to present algorithms with conditional control statements. They include branches that represent decision-making steps that can lead to a favorable result. The flowchart...
Gradient Boosting
What is Gradient Boosting? Gradient boosting is a technique used in creating models for prediction. The technique is mostly used in regression and classification procedures. Prediction models are often presented as decision trees for choosing the best prediction. Gradient boosting presents model building in stages, just like other boosting methods, while allowing the generalization and...
Ensemble Methods
What are Ensemble Methods? Ensemble methods are techniques that aim at improving the accuracy of results in models by combining multiple models instead of using a single model. The combined models increase the accuracy of the results significantly. This has boosted the popularity of ensemble methods in machine learning. Categories of Ensemble Methods Ensemble methods...
