Dhanashree

Descriptive Statistics – Short & Crisp Description of your Dataset

Statistics can be divided into branches of which one is Descriptive Statistics. Descriptive Statistics is about studying the data we have in hand. It is not used to draw any implied inferences. In Descriptive Statistics we perform basic graphical and quantitative analytics. Such statistics is used so that we can denote or highlight the behavior/characteristics… Read more Descriptive Statistics – Short & Crisp Description of your Dataset

All about Simple Linear Regression

This article talks about Simple Linear Regression from the scratch – From different types of regression to concepts underlying for evaluation of a model to predicting future values based on regression. The topics covered are – Introduction Some properties of Simple Linear Regression Model Types of Regression Estimating the Best Fitting Line Properties of Least… Read more All about Simple Linear Regression

Probability Distributions

Probability Distributions are used as an aid in Businesses while making Financial Risk Assessments, Inventory or Sales Forecasting, Annual Planning, etc. They are also used to determine the probability of demand for certain product or probability of number of people visiting the store in specific time interval and so on. This article mentions basic Discrete… Read more Probability Distributions

Assessing Linear Regression Model

I, recently, read a blog from Harvard Business Review, which mentioned that linear regression is the business world’s most preferred technique for establishing relationship between variables. Apparently, it is the basic tool to predict future outcomes. As we understand, linear regression is all about predicting a value of a variable (dependent variable) based on other… Read more Assessing Linear Regression Model