What is bootstrapping, and why is it a useful technique?
Bootstrapping refers to the process of sampling data with replacement
Statistics 101
What are the main components of a Bayesian Model?
Adapted from Bayes’ Rule, the basic setup of Bayesian inference is
How does Bayesian Statistics differ from the classical paradigm?
Classical Statistics is based around the notion that population parameters of a model are unknown but fixed
What is Mahalanobis Distance?
As Mahalanobis Distance measures the distance of each observation to the distribution of surrounding data points in higher dimensional space
What is Local Outlier Factor?
This algorithm uses an approach like K-nearest neighbors (KNN) to quantify the dissimilarity of an observation.
What is Isolation Forest?
Isolation Forest works as an anomaly detection approach and is based on the Random Forest algorithm.
What are some automatic outlier detection mechanisms?
Some automatic outlier detection mechanisms are: Isolation Forest, Local Outlier Factor, and Mahalanobis Distance
What are some options for dealing with outliers?
As outliers are observed data points, the very first step that should be taken is to understand what resulted in the outlier.
What is an Outlier?
An outlier is an observation that is located far away relative to the distribution of the remaining observations.
What is Skewness and Kurtosis?
Skewness measures the degree of symmetry present in a distribution.