In the previous video, you learned about a way to draw a graph that visualizes the way probability is combined to perform a Bayesian analysis. In this video, learn how to create a classification matrix which can take you one step closer to implementing th
- [Instructor] In the previous movie,…I showed you a way to draw a graph…that visualizes the way probability is combined…to perform Bayesian analysis.…In this movie, I will show you…how to create a calculation matrix…which will take us one step closer…to implementing the analysis in Excel.…So let's review what we know…about our base rates and accuracy.…Based on what we stated before,…85% of cabs are green, and 15% are blue.…The accuracy of witness testimony is 80%,…so 80% of the time, they'll be right, 20% wrong.…
The cab can be either green or blue.…Those are the only options.…And the witness can be accurate or not.…And using those facts,…we can create a table by evaluating…the probability of each case.…So how do we create a classification matrix?…Well, again, we have green cabs 85% of the time,…blue cabs 15,…witness is correct 80% of the time,…and incorrect 20%.…Here is what the matrix looks like.…We have our four cases…where the cab was reported as green…and was actually green,…and that will occur 68% of the time, .85 times .8.…
Author
Released
1/3/2019- Calculating mean and median values
- Analyzing data using variance and standard deviation
- Working with sample data
- Minimizing errors
- Visualizing data with histograms, charts, and more
- Testing hypotheses
- Measuring covariance and correlation
- Performing Bayesian analysis
Skill Level Beginner
Duration
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Introduction
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What you should know1m 34s
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1. Foundational Concepts of Data Analysis
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2. Visualize Data
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Group data using histograms3m 35s
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Add trendlines to charts3m 18s
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Forecast future results5m 15s
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Calculate running averages4m 37s
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3. Test a Hypothesis
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Formulate a hypothesis2m 37s
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4. Utilize Data Distributions
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Use the Poisson distribution4m 22s
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5. Measure Covariance and Correlation
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6. Perform Bayesian Analysis
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Introduce Bayesian analysis2m 16s
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Conclusion
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Further resources1m 45s
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Video: Create a classification matrix