Predictive Analytics in Business
Mean imputation is a statistical method used to replace missing data with the mean value of the observed data for that variable. This technique aims to retain the dataset's size and allows for continued analysis without dropping incomplete records. However, while it simplifies handling missing data, it can lead to biased estimates if the missing data are not random or if the data distribution is skewed.
congrats on reading the definition of Mean Imputation. now let's actually learn it.