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03-Introduction To Statistics and Analytics

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29 views11 pages

03-Introduction To Statistics and Analytics

Uploaded by

2313634
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Introduction to Statistics and

Analytics

[email protected]
What is Statistics?
• “Statistics is a way to get information from data.”

• Statistics is a tool for creating an understanding from a set of numbers.

15 August 2023 Introduction to Statistics and Analytics 2


Key Statistical Concepts
• Population
• The population is all the individuals in a group.
• frequently very large; sometimes infinite.
• Sample
• The sample is some of the individuals in a group.
• Potentially very large, but less than the population.
• Parameter
• Defines a characteristic of the population.
• Statistic
• Defines a characteristic of the sample.

15 August 2023 Introduction to Statistics and Analytics 3


Key Statistical Concepts
• Independent Variable.
• The variable that experimenters choose to manipulate; it is usually plotted along the x-
axis of a graph.
• Dependent Variable.
• The dependent variable of a study is the variable that experimenters choose to measure
during an experiment; it is usually plotted along the y-axis of a graph.

15 August 2023 Introduction to Statistics and Analytics 4


Population vs Sample

15 August 2023 Introduction to Statistics and Analytics 5


Descriptive Statistics
• Are methods of organizing, summarizing, and presenting data in a convenient
and informative way.
• Graphical Techniques
• Numerical Techniques
• The actual method used depends on what information we would like to
extract.
• measure(s) of central location? and/or
• Mean/ Median/ Mode
• measure(s) of variability (dispersion)?
• Range/ IQR/ Variance/ Standard Deviation

15 August 2023 Introduction to Statistics and Analytics 6


Descriptive Statistics

15 August 2023 Introduction to Statistics and Analytics 7


Inferential Statistics
• Descriptive Statistics describe the data set that’s being analyzed.
• But doesn’t allow us to draw any conclusions about the data.
• Hence we need another branch of statistics: inferential statistics.

• Inferential statistics is also a set of methods,


• But it is used to draw conclusions or inferences about
• characteristics of populations based on data from a sample.

15 August 2023 Introduction to Statistics and Analytics 8


Statistical Inference. . .
• Statistical inference is the process of making an
• estimate,
• prediction, or
• decision
• about a population based
on a sample.

We use statistics to make


inferences about parameters.

15 August 2023 Introduction to Statistics and Analytics 9


Confidence Levels

15 August 2023 Introduction to Statistics and Analytics 10


Thanks
22-10-2018 11

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