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?

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

Asking Statistical Question.

Linear Regression (Least Square Regression)

Develop Least Square Regression in Python.

Understand the Outputs

MSE

Degree of Freedom

Hypothesis testing

t–test for coefficient significance

F–test for model significance

ANOVA

Correlation

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.