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IIT FDS Assignment2

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10 views3 pages

IIT FDS Assignment2

Uploaded by

likhita A.N
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Comprehensive Data Analysis and

Statistical Testing for Business Insights


1 Context

In today’s data-driven world, businesses rely heavily on data analysis to make informed
decisions and gain competitive advantages. This assignment focuses on applying various
data analysis techniques to understand and interpret business data, leveraging statistical
tests to validate hypotheses and drive strategic decisions. The chosen dataset represents a
financial analytics scenario, providing a realistic context for students to apply their skills in
data visualization, univariate and multivariate analysis, and statistical testing.

2 Content

Students will work through a comprehensive case study that involves exploratory data
analysis, probability distributions, hypothesis testing, and A/B testing. The goal is to
provide a hands-on experience with real-world data, enhancing their analytical skills and
understanding of statistical concepts. This assignment will guide students through the
process of data profiling, visualization, and implementing various statistical tests to derive
meaningful insights and make data-driven decisions.

3 Data Description

The dataset used in this assignment is the "Credit Card Fraud Detection" dataset, available
on Kaggle. It contains transactions made by credit cards in September 2013 by European
cardholders. This dataset presents a real-world problem of identifying fraudulent
transactions, providing a perfect backdrop for financial analytics and hypothesis testing.

Dataset Link: https://www.kaggle.com/mlg-ulb/creditcardfraud

4 Objective

The objective of this assignment is to:


1. Perform data visualization and univariate analysis using Plotly.
2. Conduct data profiling, bivariate, and multivariate analysis.
3. Understand and implement discrete and continuous probability distributions.
4. Apply the Central Limit Theorem in the context of the dataset.
5. Conduct hypothesis testing including Null and Alternate Hypothesis, Critical Value
Method, and P-Value Method.
6. Perform two-sample mean and proportion testing, ANOVA, and Chi-Square tests.
7. Implement A/B testing to analyze business data.
8. Develop a case study in financial analytics and discuss techniques used in financial
analysis.
9. Deploy solutions based on the case study discussion.

5 Tasks

1. Data Visualization and Univariate Analysis:


Use Plotly to visualize the distribution of transaction amounts and other relevant features.
Perform univariate analysis to understand the distribution and central tendency of the
variables.

2. Data Profiling and Multivariate Analysis:


Conduct data profiling to summarize the main characteristics of the dataset.
Perform bivariate and multivariate analysis to explore relationships between different
features.

3. Probability Distributions:
Implement and interpret discrete and continuous probability distributions within the
dataset.
Apply the Central Limit Theorem to demonstrate the distribution of sample means.

4. Hypothesis Testing:
Formulate and test hypotheses using the Null and Alternate Hypothesis framework.
Use the Critical Value Method and P-Value Method to make decisions.
Perform two-sample mean and proportion testing, ANOVA, and Chi-Square tests to validate
findings.

5. A/B Testing:
Implement A/B testing to compare two groups within the dataset and interpret the results.

6. Case Study: Financial Analytics:


Develop a case study focusing on a financial analytics problem, such as detecting fraudulent
transactions.
Discuss the techniques used in financial analysis and deploy a solution based on the
findings.

7. Exploratory Data Analysis:


Conduct an in-depth exploratory data analysis (EDA) to uncover insights and patterns
within the dataset.

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