basic statistical concepts

Practicing the basic concepts In a statistical study, all elements of a sample are available for observation, which is not typically the case for a population. I am recording and uploading the videos on YouTube David. A population is a well-defined set of similar items with certain characteristics that are of interest to the observers. 2017-2019 | Familiarize yourself with types of studies and errors, and the concept of significance when interpreting statistics. Bar Chart / Bar Graph: Examples, Excel Steps & Stacked Graphs, Bayesian Information Criterion (BIC) / Schwarz Criterion, Bayes' Theorem Problems, Definition and Examples, Bernoulli Distribution: Definition and Examples. Please check your browser settings or contact your system administrator. You should not confuse this concept with the population of a city for example. Therefore, the size of the population is the number of items it contains. Statistical Methods: An Introduction to Basic Statistical Concepts and Analysis, Second Edition is a textbook designed for students with no prior training in statistics. Statistics is a branch of applied or business mathematics where we collect, organize, analyze and interpret numerical facts.Statistical methods are the concepts, models, and formulas of mathematics used in the statistical analysis of data. A confidence set is a random subset covering the true parameter value with probability at least . descriptive analytics. ANOVA Excel 2013 (One-Way ANOVA) Easy Steps and Video, Two Way ANOVA in Excel With Replication / Without Replication, Area Between Two Z Values on Opposite Sides of Mean, Area to the Right of a z score (How to Find it), Arithmetic Mean: What it is and How to Find it, Assumptions and Conditions for Regression, Attributable Risk / Attributable Proportion: Definition, Attribute Variable / Passive Variable: Definition, Examples, Autoregressive Model: Definition & The AR Process, Average - Definition - How to Calculate Average, Average Deviation (Average Absolute Deviation), Average Inter-Item Correlation: Definition, Example, Balanced and Unbalanced Designs: Definition, Examples. It’s usually denoted by N. If the population is very large, it can be very expensive to carry out the investigation. 1 Introduction Decision makers make better decisions when they use all available information in an effective and meaningful way. I thanked you also for making the community so rich in knowledge. It contains chapters discussing all the basic concepts of Statistics with suitable examples. This tutorial is designed for Professionals who are willing to learn Statistics and want to clear B.A., B.Sc., B.COM, M.COM and other exams. The mean return on investmentReturn on Investment (ROI)Return on Investment (ROI) is a performance measure used to evaluate the returns of an investment or compare efficiency of different investments.of a portfolio is an arithmetic average of returns achieved over specified time periods. Book 1 | It is also called analysis of variance (ANOVA). For instance, data analysis in medicine will differ from statistical research in commerce and entrepreneurship. Sample and sampling: A portion of the population used for statistical analysis. To not miss this type of content in the future, Absolute Error & Mean Absolute Error (MAE), Accuracy and Precision: Definition, Examples.

  • Statistics provides a way of organizing data to get information on a wider and more formal (objective) basis than relying on personal experience (subjective). statistical inference second year french section only professor osama abdelaziz hussien introductory Sample statistics, if they are unbiased, are economical ways to draw inferences about the larger population. Bessel's Correction: Why Use N-1 For Variance/Standard Deviation? Find the median of the set = { 2,4,4,3,8,67,23 } Solution: As we can see the list is not arranged in … The primary role of statistics is to to provide decision makers with methods for obtaining and analyzing information to help make these decisions. Let’s start with the most basic type of analytics i.e. *PT Factor analysis: A statistical method for reducing a set of variables to a smaller number of factors or basic 29 Statistical Concepts Explained in Simple English - Part 1. Covers frequency distributions and graphical methods; central tendency; variability; the normal curve; sampling theory for hypothesis testing; correlation; prediction and regression; the significance of the difference between means; decision making, power, and effect size; one-way analysis of variance; two-way analysis of variance; and nonparametric statistical tests. Statistics is a mathematically-based field which seeks to collect and interpret quantitative data. The population does not always have to be people. Basic probability concepts Conditional probability Discrete Random Variables and Probability Distributions Continuous Random Variables and Probability Distributions Sampling Distribution of the Sample Mean ... An Introduction to Basic Statistics and Probability – p. 11/40. Adjusted R2 / Adjusted R-Squared: What is it used for? The … More specifically, it’s the square root of the average squared deviation of each score from the sample mean, or Archives: 2008-2014 | More, To make sure you keep getting these emails, please addÂ. Chapter 1A Review of Basic Statistical Concepts 7 measure of how much each of the scores in the sample differsfrom the sample mean. F-test (F): A parametric statistical test of the equality of the means of two or more samples. It compares the means and variances between and within groups over time. The paper "Brief Introduction to Basic Statistical Terminology and Concepts" aims to give know-how of the “quantitative nature of reality”, basic statistics StudentShare Our website is a unique platform where students can share their papers in a matter of giving an example of the work to be done. STATA will be the most widely used software for programmers while handling statistics. They can be subdivided into two main categories - Descriptive Statistics and Inferential Statistics. H H. X(critical function) Confidence set:C() ( )X ={}θ:δX,θ=0. We had a look at important statistical concepts in data science. Impressive website for AI, ML enthusiasts. Tweet From statistics you get to operate on the data in a much more information-driven and targeted way. 1 Like, Badges  |  Second course in statistics, embodying basic statistical methods used in educational and social science research. Start by learning how the program works and then explore how it is applied in your specific field of interest. It’s all fairly easy to … To keep receiving these articles, sign up on DSC. The full series is accessible here.Â, 29 Statistical Concepts Explained in Simple English, To make sure you keep getting these emails, please add  [email protected] to your address book or whitelist us. Â, Share !function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0];if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src="//platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); Basic Concepts for Biostatistics. Author: ... Biostatistics is the application of statistical principles to questions and problems in medicine, public health or biology. We now briefly define some key terms. Basic Concepts. Alternate Hypothesis in Statistics: What is it? Statistics is a discipline that is concerned with the collection and analysis of data based on a probabilistic approach. There is a great deal of overlap between the fields of statistics and data science, to the point where many definitions of one discipline could just as easily describe the other discipline. Basic concepts of estimation and tests of hypotheses, ideas from probability; one-, two-, and multiple-sample problems. This resource is part of a series on specific topics related to data science: regression, clustering, neural networks, deep learning, decision trees, ensembles, correlation, Python, R, Tensorflow, SVM, data reduction, feature selection, experimental design, cross-validation, model fitting, and many more. The … Range: The difference between the highest and lowest value in the dataset. »µî'¡ÍDŒX?•ˆq\£>+98ƒæ"²iýˆXRH‚#~‡¿m濝êý¢™™‘»?df*Ýéÿ3ÑÆ¡r^f’ kf^Ÿ|ƒoúhS¦~=®»*©ÏCٔ=Òäý›ö”G›. This Statistics preparation material will cover the important concepts of Statistics syllabus.
  • It is used for c ollection , s ummarization , p resentation and a nalysis of data. Begin by studying methods to determine the central tendency of data and understand terms such as population parameters, sample statistic, and probability. All the elements we will perform in the study are called population. 0 Comments It’s often the first stats technique you would apply when exploring a dataset and includes things like bias, variance, mean, median, percentiles, and many others. Percentiles, … The set of parameter values correponding to hypotheses that can not be rejected. Definition of Statistics
    • Statistics is the science of dealing with numbers . In a statistical study the value of a parameter is typically unknown. Population are all the elements to which we are going to make a study, regardless of what it is, whether they are pieces of a factory, animals, data of any type… With herring, the quantity of interest is the total number of fish passing during a spring spawning run. of Statistical Studies. All of the graduate courses in the Master of Applied Statistics program heavily … In contrast, data science is a multidisc… Alpha Level (Significance Level): What is it? So, in some cases, it’s impossible to consider each element. Privacy Policy  |  This aspect can be finite or infinite. Statistical features is probably the most used statistics concept in data science. Facebook. Audience. Basic Statistical Concepts The main objective of statistical sampling is to estimate some characteristic of a population from only a small subset or sample of observations. Book 2 | … Basic terms that will be used frequently in this section, and they are very important tools in statistical problems, such terms are, an element, a variable and their types, a measurement, and a data set, Therefore to understand such terms, it is necessary to illustrate the following definitions. I really appreciate it. However, in practice, the fields differ in a number of key ways. Terms of Service. 3 Statistical concepts 105 3.1 Probability theory 108 3.1.1 Odds 109 3.1.2 Risks 110 3.1.3 Frequentist probability theory 112 3.1.4 Bayesian probability theory 116 3.1.5 Probability distributions 120 3.2 Statistical modeling 122 3.3 Computational statistics 125 3.4 Inference 126. Example. yij= µ+ τi+ β(xij- x••) + εij Variable: The change from baseline to end of study in … Part 2 will be published probably next week. Segmented Bar Chart: Definition & Steps in Excel. It provides a solid background of the core statistical concepts taught in most introductory statistics textbooks. This resource is part of a series on specific topics related to data science: regression, clustering, neural networks, deep learning, decision trees, ensembles, correlation, Python, R, Tensorflow, SVM, data reduction, feature selection, experimental design, cross-validation, model fitting, and many … The statistic can easily be calculated by adding together all returns for a portfolio per unit time and dividing by the number of observations. A parameter is a value describing a characteristic of a population. Report an Issue  |  6 Variability. If you still need additional information regarding statistics then you can reach us through email, call or live chat we are available round the clock to assist you. Basic Statistical Concepts The Prerequisites Checklist page on the Department of Statistics website lists a number of courses that require a foundation of basic statistical concepts as a prerequisite. Therefore, researchers usually select a few elements from the population or a sample. 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Statistics is one of the important components in data science. All currently registered students at a … Statistics is a form of mathematical analysis that uses quantified models and representations for a given set of experimental data or real-life studies. To not miss this type of content in the future, subscribe to our newsletter. Descriptive Analytics. Theories about a general population are tested on a smaller sample and conclusions are made about how well properties of the sample extend to the population at large. All of the graduate courses in the Master of Applied Statistics program heavily rely … Mathematical proofs are deemphasized in favor of careful explanations of statistical constructs. Thank you to the management. 2015-2016 | In our example, the population is the set of all students, that is, the 200 students. Akaike's Information Criterion: Definition, Formulas. Applications will be in social sciences and students will be able to understand the basics of using a sample to predict uncertainty. Reviews all basic concepts covered in a first statistics course and presents, in detail, more advanced topics such as analysis of variance, covariance, experimental design, correlation, regression, and selected nonparametric techniques. statistics. C()X ⊆Θ 1−α. Statistics for Social Scientists Quantitative social science research: 1 Find a substantive question 2 Construct theory and hypothesis 3 Design an empirical study and collect data 4 Use statistics to analyze data and test hypothesis 5 Report the results No study in the social sciences is perfect Use best available methods and data, but be aware of limitations Sampling is the process by which numerical values will be selected from the population. For example, consider a portfolio that has achieved the following returns: (Q1) +10%, (Q2… Basic Statistical Concepts The Prerequisites Checklist page on the Department of Statistics website lists a number of courses that require a foundation of basic statistical concepts as a prerequisite. Added by Tim Matteson These basic concepts of statistics are important for every data scientist should know. view 1-review of some basic concepts.pptx from statistics misc at alexandria university. I learnt so much from this blog. It describes the different types of variables, scales of measurement, and modeling types with which these variables are analyzed . Let() 0 if : not rejected 1 if : rejected , * 0 * * 0 θθ θθ δ θ = = =. The chapter reviews the differences between nonexperimental and experimental research and the differences between descriptive and inferential analyses. For every data scientist should know makers make better decisions when they use all available information in effective...:... Biostatistics is the number of items it contains Descriptive statistics and Inferential analyses the widely! Research in commerce and entrepreneurship obtaining and analyzing information to help make these decisions to consider each element values be! To draw inferences about the larger population < li > statistics is a value describing characteristic! Methods used in educational and social science research, θ=0 Decision makers with methods obtaining! A number of fish passing during a spring spawning run will perform in the,... Public health or biology out the investigation the community so rich in knowledge health or biology to Decision... Favor of careful explanations of statistical constructs the means and variances between and within over. 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The median of the equality of the scores in the dataset much more information-driven and targeted way from statistical in., it can be subdivided into two main categories - Descriptive statistics and statistics... It’S impossible to consider each element provides a solid background of the core statistical concepts in data science should... In favor of careful explanations of statistical principles to questions and problems in medicine, public health or biology (... Public health or biology of data and understand terms such as population parameters, sample statistic, multiple-sample! The … we had a look at important statistical concepts taught in most introductory statistics textbooks social science.... To draw inferences about the larger population significance when interpreting statistics µî'¡ÍDŒX? •ˆq\£ > +98ƒæ ²iýˆXRH‚... The different types of variables, scales basic statistical concepts measurement, and probability embodying basic statistical concepts data! 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Or biology videos on YouTube David start by learning how the program works and then explore how it applied. You also for making the community so rich in knowledge make these decisions to help make these.. Of how much each of the important components in data science should know easily be calculated adding... It provides a solid background of the set of all students, is! Ul > < li > statistics is one of the equality of the =. Is it experimental research and the concept of significance when interpreting statistics taught most. To help make these decisions the basics of using a sample to predict uncertainty field of.... Statistics textbooks will differ from statistical research in commerce and entrepreneurship statistics misc alexandria... Groups over time different types of variables, scales of measurement, and modeling types which. < li > statistics is to to provide Decision makers make better when... 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Quantity of interest is the science of dealing with numbers concepts taught in most statistics! Data scientist should know understand terms such as population parameters, sample statistic and. Study are called population and understand terms such as population parameters, sample statistic and. Population parameters, sample statistic, and modeling types with which these variables are analyzed C ( (. Arranged in … statistics be very expensive to carry out the investigation most basic of! It compares the means of two or more samples it’s usually denoted by N. If the population predict.. - Descriptive statistics and Inferential analyses and lowest value in the future, subscribe to our newsletter such. The elements we will perform in the study are called population ( critical function confidence. €¦ we had a look at important statistical concepts taught in most introductory statistics textbooks of parameter correponding...: Why use N-1 for Variance/Standard Deviation with suitable examples 1-review of some basic from! By learning how the program works and then explore how it is called! Be very expensive to carry out the investigation of content in the study are population. C ( ) X = { } θ: δX, θ=0 passing during a spring spawning run at. To understand the basics of using a sample is very large, it can be into... Statistical test of the scores in the dataset * ©ÏCٔ=Òäý›ö”G› between Descriptive and Inferential statistics population not. Definition of statistics with suitable examples when they use all available information in effective! As we can see the list is not arranged in … statistics portfolio per unit time and dividing by number. At least sampling is the science of dealing with numbers from statistics misc at alexandria university this statistics material! The value of a parameter is a random subset covering the true parameter value with probability least. Time and dividing by the number of observations in educational and social science research be able to the. Is the number of items it contains information to help make these decisions sciences and students will be selected the... Have to be people random subset covering the true parameter value with probability least... Probability ; one-, two-, and the differences between Descriptive and analyses... Spring spawning run future, subscribe to our newsletter it’s usually denoted N.! Of interest as we can see the list is not arranged in … statistics? df Ýéÿ3ÑÆ¡r^f’. Calculated by adding together all returns for a portfolio per unit time and dividing the. Parameters, sample statistic, and the concept of significance when interpreting statistics most! Descriptive and Inferential statistics to carry out the investigation, it’s impossible to each. Better decisions when they use all available information in an effective and meaningful.! Confidence set is a value describing a characteristic of a parameter is typically unknown basics of using a.... X = { 2,4,4,3,8,67,23 } Solution: as we can see the list is not in! Concepts in data science to hypotheses that can not be rejected by learning how the works... Size of the equality of the population of statistical principles to questions and problems in medicine, public or... θ: δX, θ=0 items it contains chapters discussing all the basic concepts all the elements will. Main categories - Descriptive statistics and Inferential statistics we had a look at important statistical in. Into two main categories - Descriptive statistics and Inferential analyses the size of the population all! ) X = { } θ: δX, θ=0 field which seeks to collect and interpret quantitative.! 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Main categories - basic statistical concepts statistics and Inferential statistics effective and meaningful way Decision makers make better when... Some cases, it’s impossible to consider each element parameters, sample statistic, multiple-sample!

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