When working with time series data, especially data which is seasonal in nature, it is often useful to calculate the average of the same date and/or time across multiple years. For example, in electricity markets…
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Here is an awesome explanation and example of the beta distribution from David Robinson stats exchange. http://stats.stackexchange.com/questions/47771/what-is-the-intuition-behind-beta-distribution The short version is that the Beta distribution can be understood as representing a...
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