Wk2 DQ – Advanced Statistical Concepts and Business Analytics

Question:

Please answer each of the following questions in detail and provide examples for better clarity wherever applicable. Provide in-text citations.

1. Explain the k-nearest neighbor’s algorithm for prediction, accompanied by a simple example.
2. Explain the Bayes’ algorithm for estimating the probability of an outcome, accompanied by a simple example.

Note:

1. Need to have at least 1 peer-reviewed article as the reference and textbook as the reference

2. Need in-text citation

3. Please find the attachments as the power points of the course for reference.

4. Textbook Information:

Bowerman, B., Drougas, A. M., Duckworth, A. G., Hummel, R. M. Moniger, K. B., & Schur, P. J.  (2019). Business statistics and analytics in practice (9th ed.). McGraw-Hill

ISBN 9781260187496

5. Please find the Course Learning Outcome list of this course in the attachment