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Category: Business

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What is Statistics? (Comprehensive Article)

Statistics is a branch of mathematics concerned with the collection, organization, analysis, interpretation, and presentation of data. At its core, statistics deals with the inherent uncertainty and variability that exist in most real-world phenomena. By employing mathematical and computational methods, statisticians aim…

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What is Classification Algorithm? Types and Applications

A classification algorithm is a supervised learning method that aims to determine the category or label of new data based on previous data. For example, if we have animals’ data with different sizes and weights, we can use a classification algorithm to determine which category…

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What is the Expert System?

What is the expert system? Expert system is one of the fields of artificial intelligence. This system can make decisions like an intelligent human. Expert system focuses on how knowledge representation works in solving real problems. In this article, we are…

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Clustering and its Algorithms

What is Clustering? Clustering algorithm (cluster analysis) is a grouping method of objects based on their similarities. It is used as a data analysis technique to discover interesting patterns in data, such as groups of customers based on their behavior. Clustering, which…

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What is Inferential Statistics?

Before inferential statistics, we described descriptive statistics in a separate article and explained some of the methods used. In this article, we are going to provide explanations about inferential statistics. Let’s start with the question, “If you are going to examine the…

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