IIFL Finance Data Scientist Interview Questions and Answers

Cancellation in the number of bookings in an app has increased exponentially in the past few weeks, How would you conduct an RCA on the same.

Q1. Machine learning algorithms
Ans. 
Machine learning algorithms are used to analyze data and make predictions or decisions without being explicitly programmed.
• Machine learning algorithms can be categorized into supervised, unsupervised, and reinforcement learning.

• Examples of machine learning algorithms include linear regression, decision trees, support vector machines, and neural networks.

• These algorithms learn from data to improve their performance over...read more
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Q2. SQL basics and basic knowledge of security products
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Q1. Very lengthy process and delayed a lot
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Q1. Explain any Data Science project
Ans. 
Developed a predictive model to forecast customer churn for a telecommunications company.
• Identified key features such as customer tenure, monthly charges, and service usage

• Collected and cleaned data from customer databases

• Built a machine learning model using logistic regression or random forest algorithms

• Evaluated model performance using metrics like accuracy, precision, and recall

• Provided actionable insights to reduce
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Q2. Types of Error in Statistics
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Types of errors in statistics include sampling error, measurement error, and non-sampling error.
• Sampling error occurs when the sample does not represent the population accurately.

• Measurement error is caused by inaccuracies in data collection or measurement instruments.

• Non-sampling error includes errors in data processing, analysis, and interpretation.

• Examples: Sampling error - selecting a biased sample, Measurement err...read more
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Q3. Types of Machine learning models
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Types of machine learning models include supervised learning, unsupervised learning, and reinforcement learning.
• Supervised learning: Models learn from labeled data, making predictions based on past examples (e.g. linear regression, support vector machines)

• Unsupervised learning: Models find patterns in unlabeled data, clustering similar data points together (e.g. k-means clustering, PCA)

• Reinforcement learning: Models le...read more
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Q4. Functions of pandas library, such as get_dummies()
Ans. 
get_dummies() function in pandas library is used to convert categorical variables into dummy/indicator variables.
• get_dummies() function creates dummy variables for categorical columns in a DataFrame.

• It converts categorical variables into numerical representation for machine learning models.

• Example: df = pd.get_dummies(df, columns=['column_name'])
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Q1. What is Gradient Descents?
Ans. 
Gradient descent is an optimization algorithm used to minimize a function by iteratively moving in the direction of steepest descent.
• Gradient descent is used to find the minimum of a function by taking steps proportional to the negative of the gradient at the current point.

• It is commonly used in machine learning to optimize the parameters of a model by minimizing the loss function.

• There are different variants of gradie...read more
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Q2. What is LSTM?, and what are the gates in it?
Ans. 
LSTM (Long Short-Term Memory) is a type of recurrent neural network designed to handle long-term dependencies.
• LSTM has three gates: input gate, forget gate, and output gate.

• Input gate controls the flow of information into the cell state.

• Forget gate decides what information to discard from the cell state.

• Output gate determines the output based on the cell state.
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Q3. They gave me a link to dataset and started saying the operations to apply on that. E.g, value_counts, null_values, fill the values with mean,etc.
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Q4. What is t-test? What is Mean, Median and Mode and where to use these?
Ans. 
T-test is a statistical test used to determine if there is a significant difference between the means of two groups.
• Mean is the average of a set of numbers, median is the middle value when the numbers are ordered, and mode is the most frequently occurring value.

• Mean is sensitive to outliers, median is robust to outliers, and mode is useful for categorical data.

• T-test is used to compare means of two groups, mean is used...read more
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Q5. What is RANDOM FOREST ?
Ans. 
Random Forest is an ensemble learning method used for classification and regression tasks.
• Random Forest is a collection of decision trees that are trained on random subsets of the data.

• Each tree in the forest makes a prediction, and the final prediction is the average (regression) or majority vote (classification) of all trees.

• Random Forest helps reduce overfitting and improve accuracy compared to a single decision tre...read more
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Q1. SQL basic questions
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Q2. Python - pandas, numpy based questions
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Numerical logical round with market related questions

Q1. Call put strategies
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Python based EDA assignment

Q1. Nilllllllllllllllllllllllll
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