Naive Data

Linear regression is one of the widely used statistical techniques for analysis. It provides a relationship between the target and the predictors. The below graph shows the linear relationship between the “dependent” variable Y, whose values we wish to predict and the “independent” variable X from which we wish to predict it. There are two types of linear regression: 1. Simple Linear Regression : It denotes the relationship between one variable and the target variable. The above graph represents the Simple Linear Regression. 2. Multiple Linear Regression :     It denotes the relationship between 2 or more independent variables and the corresponding dependent variable. The independent variables can be continuous or categorical. The below graph shows the multiple linear regression. Properties of Linear Regression Below are the main properties of linear regression: There is a linear relationship between X a...

Photo by Chris Liverani This is the first post in the series Statistics Terms for Data Science. In this series , we are going to understand the Statistics Concepts which are used in Data Science. Probability: Probability is a measure of the chances of an event happening. You can't predict many events with complete certainty. We can only predict the chance of an event occurring i.e. how likely it will occur, using it. Probability will vary from 0 to 1, where 0 means that the event is impossible, and 1 implies a certain event. Random Variables: Random Variables , generally denoted by X, provides the association between the outcome of the experiment to something measurable.  For e.g. For a loan re-payment analysis, we come to know below outcome 1. Salary < 2 Lakhs ,fails to repay 2. Salary > 2 Lakhs , can repay So here we have two outcomes, fails to repay and can repay , so we can assign a value to each outcome i.e. we can define the Random Variable X as: This is useful in ...