Conditional Probability

Conditional Probability

Probability vs Statistics Probability is used to predict the likelihood of a future event. vs Statistics is used to analyse past events   Basics of Probability Probability in simple terms is the likelihood of a situation happening. When unsure of the outcome, the probability can be calculated to know its chances. Probability(Event)=(Number of favourable outcomes … Read more

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Ridge regression

In layman’s terms, Ridge regression adds one more term to linear regression’s cost function to reduce error. Ridge regression is a model-tuning method used to analyze data that suffer from multicollinearity. This method performs L2 regularization. When the issue of multicollinearity occurs, least-squares are unbiased, and variances are large; this results in predicted values being … Read more

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Polynomial regression

“Polynomial Regression is a form of linear regression in which the relationship between the independent variable x and dependent variable y is modeled as an nth-degree polynomial. Polynomial regression fits a nonlinear relationship between the value of x and the corresponding conditional mean of y.” As stated in formal terms, this definition of polynomial regression … Read more

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Conditional Probability

Probability vs. Statistics Probability is used to predict the likelihood of a future event. vs Statistics are used to analyze past events Basics of Probability Probability, in simple terms, is the likelihood of a situation happening. When unsure of the outcome, the probability can be calculated to know its chances. Probability(Event)=(Number of favourable outcomes of … Read more

Read More