Data Mining, which is part of data science, which in turn is used to build AI applications have projects and these are handled commonly using the following methodologies:
Making statements or concluding/generalizing an entire population would not be possible, as we will not get the complete data. (Example: who will win the elections).
Probability can be explained as the chance that an outcome has from a set of possible outcomes of an experiment. It is measured as = No. of interested events/Total no. of events.
Seasonality is a fundamental concept in various fields, from finance and economics to marketing and agriculture. It represents recurring patterns or trends that follow a specific time-based cycle.