[ COVER OF THE WEEK ]
statistical anomaly Source
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[ NEWS BYTES]
[ FEATURED COURSE]
[ FEATURED READ]
The human brain has some capabilities that the brains of other animals lack. It is to these distinctive capabilities that our species owes its dominant position. Other animals have stronger muscles or sharper claws, but … more
[ TIPS & TRICKS OF THE WEEK]
Analytics Strategy that is Startup Compliant
With right tools, capturing data is easy but not being able to handle data could lead to chaos. One of the most reliable startup strategy for adopting data analytics is TUM or The Ultimate Metric. This is the metric that matters the most to your startup. Some advantages of TUM: It answers the most important business question, it cleans up your goals, it inspires innovation and helps you understand the entire quantified business.
[ DATA SCIENCE Q&A]
Q:What is statistical power?
A: * sensitivity of a binary hypothesis test
* Probability that the test correctly rejects the null hypothesis H0H0 when the alternative is true H1H1
* Ability of a test to detect an effect, if the effect actually exists
* Power=P(reject H0|H1istrue)
* As power increases, chances of Type II error (false negative) decrease
* Used in the design of experiments, to calculate the minimum sample size required so that one can reasonably detects an effect. i.e: how many times do I need to flip a coin to conclude it is biased?
* Used to compare tests. Example: between a parametric and a non-parametric test of the same hypothesis
[ VIDEO OF THE WEEK]
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[ QUOTE OF THE WEEK]
Getting information off the Internet is like taking a drink from a firehose. Mitchell Kapor
[ PODCAST OF THE WEEK]
[ FACT OF THE WEEK]
Decoding the human genome originally took 10 years to process; now it can be achieved in one week.