Probability distributions are critical to data science and business decision-making.
In 3 minutes, I'll unpack 3 years of studying probability distributions (and share how I applied it to a $15,000,000 business project).
Let's go! 🧵
1. Probability Distribution Fundamentals:
In statistics, a probability distribution is a mathematical function that provides the probabilities of occurrence of different possible outcomes in an experiment. It's a way to describe how likely different outcomes will occur. There are two main types of probability distributions: Discrete and Uniform.
2. Discrete Distribution:
These are used when the set of possible outcomes is discrete (i.e., can be counted). For example, the number of customers that convert in a time period (which can only take on the values 1, 2, 3, 4, 5, 6, etc).
🚨 BREAKING: IBM launches a free Python library that converts ANY document to data
Introducing Docling. Here's what you need to know: 🧵
1. What is Docling?
Docling is a Python library that simplifies document processing, parsing diverse formats — including advanced PDF understanding — and providing seamless integrations with the gen AI ecosystem.
2. Document Conversion Architecture
For each document format, the document converter knows which format-specific backend to employ for parsing the document and which pipeline to use for orchestrating the execution, along with any relevant options.
Understanding P-Values is essential for improving regression models.
In 2 minutes, I'll crush your confusion.
1. The p-value:
A p-value in statistics is a measure used to assess the strength of the evidence against a null hypothesis.
2. Null Hypothesis (H₀):
The null hypothesis is the default position that there is no relationship between two measured phenomena or no association among groups. For example, under H₀, the regressor does not affect the outcome.