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In this activity, we are tasked with analyzing a dataset to determine its probability. Then, we’ll apply an appropriate distribution to verify this probability. Finally, we’ll assess if the calculated probability is reasonably accurate and whether the chosen distribution fits the model well.
In this activity, we are tasked with analyzing a dataset to determine its probability. Then, we’ll apply an appropriate distribution to verify this probability. Finally, we’ll assess if the calculated probability is reasonably accurate and whether the chosen distribution fits the model well.
For this analysis, I've taken the profit data from Google and calculated the errors in its profits. These errors were then used to model the data. It was observed that the normal distribution best fits this model. Using this model, we can predict the likelihood of errors when forecasting future profits.
For this analysis, I've taken the profit data from Google and calculated the errors in its profits. These errors were then used to model the data. It was observed that the normal distribution best fits this model. Using this model, we can predict the likelihood of errors when forecasting future profits.
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