The last few blog posts of this series discussed regression models. Fernando has selected the best model. He has built a multivariate regression model. The model takes the following shape: price = -55089.98 + 87.34 engineSize + 60.93 horse power + 770.42 width The model predicts or estimates price (target) as a function of engine […]
In the last few blog posts of this series, we discussed simple linear regression model. We discussed multivariate regression model and methods for selecting the right model. In this article will address that question. This article will elaborate about Log-Log regression models.
In the last article of this series, we had discussed multivariate linear regression model. Fernando creates a model that estimates the price of the car based on five input parameters. Fernando indeed has a better model. Yet, he wanted to select the best set of variables for input. This article will elaborate on model selection […]
In the first article of this series, I had touched upon key concepts and processes of Data Science. In this article, I will dive in a bit deeper. First, I will define what is Statistical learning. Then, we will dive into key concepts in Statistical learning. Believe me; it is simple. As per Wikipedia, Statistical […]
In the last article of this series, we discussed the story of Fernando. A data scientist who wants to buy a car. He uses Simple Linear Regression model to estimate the price of the car. The regression model created by Fernando predicts price based on the engine size. One dependent variable predicted using one independent […]
In the previous posts of this series, we discussed the concepts of statistical learning and hypothesis testing. In this article, we dive into linear regression models. Before we dive in, let us recall some important aspects of statistical learning. Independent and Dependent variables: In the context of Statistical learning, there are two types of data: […]
Edward Teller, the famous Hungarian-American physicist, once quoted: “A fact is a simple statement that everyone believes. It is innocent, unless found guilty. A hypothesis is a novel suggestion that no one wants to believe. It is guilty, until found effective.” Application of hypothesis testing is predominant in Data Science. It is imperative to simplify […]