## Train-Test split and Cross-validation: Visual Illustrations & Examples

Creating an optimal model that strikes a balance between underfitting and overfitting requires careful consideration. To assess how well our model performs on new, unseen data, we employ the train-test split technique and cross-validation. Train-Test Split: To evaluate a model’s performance, we split the dataset into a training set (approximately 70-90% of the data) and …

## Understanding Confidence Intervals with an Intuitive Example

Confidence intervals (CIs) are a fundamental concept in data science. In this informative guide, we’ll delve into the world of confidence intervals using an intuitive example to help you grasp this concept with confidence. The Bus Stop Scenario: Imagine yourself at a bus stop where the expected arrival time of the bus is usually 9:30 …

## Non-linear Relationships: When a 0 Pearson Correlation Coefficient Can Be Surprisingly Meaningful

The Pearson correlation coefficient (denoted as “r”) is widely used in statistics to measure the strength and direction of linear relationships between variables, ranging from -1 (perfect negative linear correlation) to +1 (perfect positive linear correlation). A Pearson correlation coefficient of 0 typically implies the absence of a linear relationship between variables. However, the term …

## Standard Deviation vs Standard Error: Clearing up the Confusion with Visual Examples

Standard deviation and standard error are two statistical measures that often get confused with each other. While both measures describe the variability in the data, they serve different purposes. Standard deviation measures the spread of the data. It calculates how far the individual data points deviate from the mean of the data set. A low …

## Mastering Central Limit Theorem (CLT) with Intuitive Examples

Let’s explore the Central Limit Theorem (CLT) with an example of rolling two dice multiple times (let’s say 30 times). We will calculate the mean of the two dice values and plot its distribution to understand the CLT intuitively. Round 1: We roll the dice and get 2 and 5. The sample mean of 2 …

## Demystifying Degrees of Freedom with Visual Examples: A Beginner’s Guide

The concept of degrees of freedom is essential in statistical analysis, and it is commonly used in various statistical tests. In this blog post, we will explore A) Without any restriction B) With a restriction C) Degrees of freedom in contingency tables D) Bessel’s correction  with examples. This will help you to understand degrees of  …

## A Beginner’s Guide to t-tests: Real-life Applications of t-test: One-Sample, Two Sample and Paired Sample t-test

William Sealy Gosset, an English statistician who was also a beer brewer, developed the t-test. He used this test to ensure the consistency and quality of the beer he produced. Gosset published his work under the pseudonym “Student”, which is why the t-test is also known as the Student’s t-test. There are three types of …

## Basics of Blockchain Technology

Blockchain technology has gained popularity in recent times. This article covers some of the fundamental concepts associated with it, including: What is blockchain? Why do we need blockchain? How does blockchain ensure trust? Who invented it? When to use it? When not to use it? So, let’s get started. What is blockchain? Why do we …