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  • Book Overview & Buying Mastering Python for Data Science
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Mastering Python for Data Science

Mastering Python for Data Science

By : Samir Madhavan
3.6 (10)
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Mastering Python for Data Science

Mastering Python for Data Science

3.6 (10)
By: Samir Madhavan

Overview of this book

Data science is a relatively new knowledge domain which is used by various organizations to make data driven decisions. Data scientists have to wear various hats to work with data and to derive value from it. The Python programming language, beyond having conquered the scientific community in the last decade, is now an indispensable tool for the data science practitioner and a must-know tool for every aspiring data scientist. Using Python will offer you a fast, reliable, cross-platform, and mature environment for data analysis, machine learning, and algorithmic problem solving. This comprehensive guide helps you move beyond the hype and transcend the theory by providing you with a hands-on, advanced study of data science. Beginning with the essentials of Python in data science, you will learn to manage data and perform linear algebra in Python. You will move on to deriving inferences from the analysis by performing inferential statistics, and mining data to reveal hidden patterns and trends. You will use the matplot library to create high-end visualizations in Python and uncover the fundamentals of machine learning. Next, you will apply the linear regression technique and also learn to apply the logistic regression technique to your applications, before creating recommendation engines with various collaborative filtering algorithms and improving your predictions by applying the ensemble methods. Finally, you will perform K-means clustering, along with an analysis of unstructured data with different text mining techniques and leveraging the power of Python in big data analytics.
Table of Contents (14 chapters)
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7
7. Estimating the Likelihood of Events
13
Index

Type 1 and Type 2 errors

Type 1 error is a type of error that occurs when there is a rejection of the null hypothesis when it is actually true. This kind of error is also called an error of the first kind and is equivalent to false positives.

Type 1 and Type 2 errors

Let's understand this concept using an example. There is a new drug that is being developed and it needs to be tested on whether it is effective in combating diseases. The null hypothesis is that it is not effective in combating diseases.

The significance level is kept at 5% so that the null hypothesis can be accepted confidently 95% of the time. However, 5% of the time, we'll accept the rejecttion of the hypothesis although it had to be accepted, which means that even though the drug is ineffective, it is assumed to be effective.

The Type 1 error is controlled by controlling the significance level, which is alpha. Alpha is the highest probability to have a Type 1 error. The lower the alpha, the lower will be the Type 1 error.

The Type 2 error...

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