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Module - 1 - Session - 4 Sampling Distributions - Re-Sampling - Statistical Inference - Prediction Error

The document discusses key statistical concepts related to sampling distributions, emphasizing the distinction between populations and samples. It explains the process of re-sampling to estimate population parameters and the role of statistical inference in drawing conclusions about populations from samples. Additionally, it covers prediction errors in predictive analytics and methods to improve future predictions based on past failures.

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40 views2 pages

Module - 1 - Session - 4 Sampling Distributions - Re-Sampling - Statistical Inference - Prediction Error

The document discusses key statistical concepts related to sampling distributions, emphasizing the distinction between populations and samples. It explains the process of re-sampling to estimate population parameters and the role of statistical inference in drawing conclusions about populations from samples. Additionally, it covers prediction errors in predictive analytics and methods to improve future predictions based on past failures.

Uploaded by

arrakkalabu15
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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CS6CRT19 Big Data Analytics Module 1

Statistical Concepts: Sampling Distributions

In statistics, a population is the entire pool from which a statistical sample is


drawn. A population may refer to an entire group of people, objects, events, hospital
visits, or measurements. A population can thus be said to be an aggregate
observation of subjects grouped together by a common feature.

A lot of data drawn and used by academicians, statisticians, researchers,


marketers, analysts, etc. are actually samples, not populations. A sample is a subset
of a population.

A sampling distribution is a probability distribution of a statistic obtained


from a larger number of samples drawn from a specific population. The sampling
distribution of a given population is the distribution of frequencies of a range of
different outcomes that could possibly occur for a statistic of a population.

Re-Sampling

The problem with the sampling process is that we only have a single estimate
of the population parameter, with little idea of the variability or uncertainty in the
estimate. One way to address this is by estimating the population parameter multiple
times from our data sample. This is called resampling.

Re-sampling is the method that consists of creating or drawing repeated


samples from the original samples. Resampling involves the selection of randomized
cases with replacement from the original data sample in such a manner that each
number of a sample drawn has a number of cases that are similar to the original data
sample.

Swamy Saswathikananda College, Poothotta 1


CS6CRT19 Big Data Analytics Module 1

Statistical Inference

The primary objective of a sample study is to create inferences (conclusions)


about the population by examining only a part of the population. Inferences created
in such a way are called statistical inferences. Statistical inference is a process by
which we create conclusions about the population based on samples drawn from the
population.

Prediction Error

Predictive analytical processes use new and historical data to forecast activity,
behaviour, and trends. A prediction error is the failure of some expected event to
occur. When prediction fails, humans can use different methods, examining
predictions and failures and deciding some methods to overcome such errors in the
future. Applying that type of knowledge can inform decisions and improve the
quality of future prediction.

Swamy Saswathikananda College, Poothotta 2

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