Statistical Decision Making in Data Science with Case Study

Statistical Decision Making in Data Science with Case Study

Welcome to the course "Statistical Decision Making in Data Science with a Case Study in Python"

This course is an introduction course where you will learn about the importance of Statistics and Machine Learning in Decision Making. I explained this course with a case study. We start with a problem statement and data then we build the machine learning model. Building a machine learning model is really not enough but getting a decision out of machine learning is the primary goal in Data Science. For that, we will use statistics.

What you will Learn?

1. Understand the Problem statement (Case Study on Big Mac Index with used in Forex Industry for Predicting Dollar value)

2. Asking Statistical Question.

3. Linear Regression (Least Square Regression)

4. Develop Least Square Regression in Python.

5. Understand the Outputs

   1. MSE

   2. Degree of Freedom

6. Hypothesis testing

   1. t-test for coefficient significance

   2. F-test for model significance

   3. ANOVA

7. Correlation

8. R-Square

   
   

You will learn the approaches towards regression with case study.  First we start with understanding linear equation and the optimization function value sum of squared errors.  With that we find the values of the coefficient and makes least square regression. Then we starts building our linear regression in python.

For the model we build we necessary test like hypothesis testing.

• t-test for coefficient significance

• ANOVA and F-test for model significance.

And finally, we answer the question statically. Hope we are seeing you inside the course !!!

Understand how Statistics is Applied to Data Science Problem like ANOVA, t-test, F-test in Python

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What you will learn

• Least Square Regression
• Build OLS in Statsmodel
• Hypothesis Testing

Rating: 4

Level: Beginner Level

Duration: 1 hour

Instructor: Data Science Anywhere