3 D Statistical Learning

Case Study: Optimizing Electricity Procurement Costs

Challenge Rising energy prices and complex load profiles made it increasingly difficult for companies to keep procurement costs under control. The goal was to develop a data-driven solution to identify savings potential and optimize electricity…

Introduction to Statistical Decision Theory – Edition 3: Ethical and Strategic Decisions Under Uncertainty

This third edition presents a real-world-inspired decision-theoretic scenario rooted in the classical formulation of I. J. Good (1952), where human incentives, ethical dilemmas, and corporate strategy intersect. A new invention is presented to a company’s…

Making Statistical Concepts Accessible – Edition 15: Modeling Count Data with the Poisson Distribution

In public health data analysis, disease counts, proportions, and rates are often used as outcome variables. These discrete outcomes differ from the continuous variables typically associated with linear regression. When analyzing count data, especially when…

Case Study: Detecting Machine Signal Modes Using Statistical Analysis

Problem Description We have a time series signal that switches between two modes: on (e.g., at t = 0s) and off (e.g., at t = 0.001504s). These modes correspond to different signal values. Our goal…

Making Bayesian Statistics Accessible to Everyone – Edition 1: From Frequentist to Bayesian Statistics

Introduction Statisticians draw data from a subset of the population, known as a sample, which should be representative of the whole. Analyses are then conducted on the sample with the intention of making reliable inferences…

Case Study: Predicting Customer Sensitivity to Interest Rate Changes – A Step-by-Step Binary Classification Approach Using Random Forest

Introduction A leading retail bank aims to optimize the pricing of its credit portfolio by predicting how sensitive its customers are to changes in interest rates. This case study provides a step-by-step walkthrough of how…