Asset Analytix Interview Questions, Process, and Tips

PCA is a statistical technique used to reduce the dimensionality of a dataset while retaining most of the original information.

• PCA is used to identify patterns in data and reduce the number of variables in a dataset.

• It transforms the original variables into a new set of variables called principal components.

• The first principal component explains the maximum variance in the data, followed by the second and so on.

• PCA is ...read more

Weibull distribution is used to model the failure rate of machines and equipment over time.

• Used in reliability engineering to predict the failure rate of machines and equipment over time

• Commonly used in the automotive industry to predict the failure rate of car parts

• Also used in the pharmaceutical industry to model the time it takes for a drug to degrade

• Can be used to model the time it takes for a customer to complete

Outliers can be identified using statistical methods such as box plots, z-scores, and scatter plots.

• Use box plots to visualize the distribution of data and identify any points that fall outside the whiskers.

• Calculate z-scores to identify data points that are more than 3 standard deviations away from the mean.

• Use scatter plots to identify any data points that are far away from the general trend of the data.

• Consider the ...read more