Bayesian Statistics
Based on the concept of probability, Bayesian Statistics computes and analyzes prior data to forecast the future trend. If there is a specific change in the present, the prior data will not reflect that.
Frequency analysis, therefore, is computing the likelihood of a specific occurrence, where new information isn’t computed.
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Statistics is using math to do technical analysis of data. Instead of guesstimating, data helps us get concrete and factual information.
The most widely used statistical concept in data science is called Statistical Features. It includes important measurements lik...
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