Data Science Techniques

noun a collection or gathering of people or things

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• The grouping of students was based on their academic performance.
• We're thinking of grouping together for the project.
• Let's do a group-up for the party this weekend.
• The grouping of colors in the painting created a harmonious effect.

noun the state of being scarce or in short supply; a small amount or number

• The sparsity of data in this study makes it difficult to draw meaningful conclusions.
• There's a real sparsity of good restaurants in this area.
• I can't believe the sparsity of snacks in this house!
• The sparsity of love in his life left him feeling empty.

noun acronym for Reserve Bank of Australia, the central bank of Australia

• The RBA is responsible for setting the official cash rate in Australia.
• Did you hear what the RBA decided to do with interest rates?
• I wonder if the RBA will cut rates again soon.
• The RBA is like the puppeteer pulling the strings of the economy.

verb to winsorize means to adjust a data set by limiting extreme values to reduce the impact of outliers

• In statistical analysis, one common technique is to winsorize the data to remove extreme outliers.
• When cleaning up the data, we can winsorize the outliers to get a more accurate picture.
• Let's winsorize the data so we can get rid of those crazy outliers.
• Just like trimming the edges of a picture, winsorizing helps to clean up the data.