Measure of Central Tendencies - Mean, Median, Mode | Statistics for Machine Learning

This video is about Central tendencies and the different Measures of central tendencies such as Mean, median and mode. This is one of the important topics in statistics for Machine Learning.

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Check out the 5 latest technologies of machine learning trends to boost business growth in 2021 by considering the best version of digital development tools. It is the right time to accelerate user experience by bringing advancement in their lifestyle.

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Hire machine learning developers in India ,DxMinds Technologies is the best product engineering company in India making innovative solutions using Machine learning and deep learning. We are among the best to hire machine learning experts in India work in different industry domains like Healthcare retail, banking and finance ,oil and gas, ecommerce, telecommunication ,FMCG, fashion etc.

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QA & Automation

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Applications of machine learning in different industry domains

Machine learning applications are a staple of modern business in this digital age as they allow them to perform tasks on a scale and scope previously impossible to accomplish.Businesses from different domains realize the importance of incorporating machine learning in business processes.Today this trending technology transforming almost every single industry ,business from different industry domains hire dedicated machine learning developers for skyrocket the business growth.Following are the applications of machine learning in different industry domains.

Transportation industry

Machine learning is one of the technologies that have already begun their promising marks in the transportation industry.Autonomous Vehicles,Smartphone Apps,Traffic Management Solutions,Law Enforcement,Passenger Transportation etc are the applications of AI and ML in the transportation industry.Following challenges in the transportation industry can be solved by machine learning and Artificial Intelligence.

• ML and AI can offer high security in the transportation industry.
• It offers high reliability of their services or vehicles.
• The adoption of this technology in the transportation industry can increase the efficiency of the service.
• In the transportation industry ML helps scientists and engineers come up with far more environmentally sustainable methods for powering and operating vehicles and machinery for travel and transport.

Healthcare industry

Technology-enabled smart healthcare is the latest trend in the healthcare industry. Different areas of healthcare, such as patient care, medical records, billing, alternative models of staffing, IP capitalization, smart healthcare, and administrative and supply cost reduction. Hire dedicated machine learning developers for any of the following applications.

• Identifying Diseases and Diagnosis
• Drug Discovery and Manufacturing
• Medical Imaging Diagnosis
• Personalized Medicine
• Machine Learning-based Behavioral Modification
• Smart Health Records
• Clinical Trial and Research
• Better Radiotherapy
• Crowdsourced Data Collection
• Outbreak Prediction

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Finance industry**

In financial industries organizations like banks, fintech, regulators and insurance are Adopting machine learning to improve their facilities.Following are the use cases of machine learning in finance.

• Fraud prevention
• Risk management
• Investment predictions
• Customer service
• Digital assistants
• Marketing
• Network security
• Loan underwriting
• Algorithmic trading
• Process automation
• Document interpretation
• Content creation
• Trade settlements
• Money-laundering prevention
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Education industry

Education industry is one of the industries which is investing in machine learning as it offers more efficient and easierlearning.AdaptiveLearning,IncreasingEfficiency,Learning Analytics,Predictive Analytics,Personalized Learning,Evaluating Assessments etc are the applications of machine learning in the education industry.

Outsource your machine learning solution to India,India is the best outsourcing destination offering best in class high performing tasks at an affordable price.Business** hire dedicated machine learning developers in India for making your machine learning app idea into reality.
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Future of machine learning
Continuous technological advances are bound to hit the field of machine learning, which will shape the future of machine learning as an intensively evolving language.

• Improved Unsupervised Algorithms
• Increased Adoption of Quantum Computing
• Enhanced Personalization
• Improved Cognitive Services
• Rise of Robots

**Conclusion
**
Today most of the business from different industries are hire machine learning developers in India and achieve their business goals. This technology may have multiple applications, and, interestingly, it hasn’t even started yet but having taken such a massive leap, it also opens up so many possibilities in the existing business models in such a short period of time. There is no question that the increase of machine learning also brings the demand for mobile apps, so most companies and agencies employ Android developers and hire iOS developers to incorporate machine learning features into them.

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Hire Machine Learning Developer | Hire ML Experts in India

Machine learning applications are a staple of modern business in this digital age as they allow them to perform tasks on a scale and scope previously impossible to accomplish.Businesses from different domains realize the importance of incorporating machine learning in business processes.Today this trending technology transforming almost every single industry ,business from different industry domains hire dedicated machine learning developers for skyrocket the business growth.Following are the applications of machine learning in different industry domains.

Transportation industry

Machine learning is one of the technologies that have already begun their promising marks in the transportation industry.Autonomous Vehicles,Smartphone Apps,Traffic Management Solutions,Law Enforcement,Passenger Transportation etc are the applications of AI and ML in the transportation industry.Following challenges in the transportation industry can be solved by machine learning and Artificial Intelligence.

• ML and AI can offer high security in the transportation industry.
• It offers high reliability of their services or vehicles.
• The adoption of this technology in the transportation industry can increase the efficiency of the service.
• In the transportation industry ML helps scientists and engineers come up with far more environmentally sustainable methods for powering and operating vehicles and machinery for travel and transport.

Healthcare industry

Technology-enabled smart healthcare is the latest trend in the healthcare industry. Different areas of healthcare, such as patient care, medical records, billing, alternative models of staffing, IP capitalization, smart healthcare, and administrative and supply cost reduction. Hire dedicated machine learning developers for any of the following applications.

• Identifying Diseases and Diagnosis
• Drug Discovery and Manufacturing
• Medical Imaging Diagnosis
• Personalized Medicine
• Machine Learning-based Behavioral Modification
• Smart Health Records
• Clinical Trial and Research
• Better Radiotherapy
• Crowdsourced Data Collection
• Outbreak Prediction

**
Finance industry**

In financial industries organizations like banks, fintech, regulators and insurance are Adopting machine learning to improve their facilities.Following are the use cases of machine learning in finance.

• Fraud prevention
• Risk management
• Investment predictions
• Customer service
• Digital assistants
• Marketing
• Network security
• Loan underwriting
• Algorithmic trading
• Process automation
• Document interpretation
• Content creation
• Trade settlements
• Money-laundering prevention
• Custom machine learning solutions

Education industry

Education industry is one of the industries which is investing in machine learning as it offers more efficient and easierlearning.AdaptiveLearning,IncreasingEfficiency,Learning Analytics,Predictive Analytics,Personalized Learning,Evaluating Assessments etc are the applications of machine learning in the education industry.

Outsource your machine learning solution to India,India is the best outsourcing destination offering best in class high performing tasks at an affordable price.Business** hire dedicated machine learning developers in India for making your machine learning app idea into reality.
**
Future of machine learning
Continuous technological advances are bound to hit the field of machine learning, which will shape the future of machine learning as an intensively evolving language.

• Improved Unsupervised Algorithms
• Increased Adoption of Quantum Computing
• Enhanced Personalization
• Improved Cognitive Services
• Rise of Robots

**Conclusion
**
Today most of the business from different industries are hire machine learning developers in India and achieve their business goals. This technology may have multiple applications, and, interestingly, it hasn’t even started yet but having taken such a massive leap, it also opens up so many possibilities in the existing business models in such a short period of time. There is no question that the increase of machine learning also brings the demand for mobile apps, so most companies and agencies employ Android developers and hire iOS developers to incorporate machine learning features into them.

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Statistical Measures of Central Tendency

Introduction

In statistics, measures of central tendency are a set of “middle” values representative of the data points. Central tendency describes the distribution of data focusing on the central location around which all other data are clustered. It is the opposite of dispersion that measures how far the observations are scattered with respect to the central value.

As we will see below, central tendency is an elementary statistical concept, yet a widely used one. Among the measures of central tendency mean, median and mode are most frequently cited and used. Below we will see why they are important in the field of data science and analytics.

1. Arithmetic Mean

Mean is the average of some data points. It is the simplest measure of central tendency that takes the sum of the observations and divides the sum by the number of observations.

In mathematical notation arithmetic mean is expressed as:

Where xi are individual observations and N is the number of observations

In a more practical example, if wages of 3 restaurant employees are $12, $14 and $15 per hour, then the average wage is $13.6 per hour. Simple as that.

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