diff --git a/blogs/Statistics For Data Science.md b/blogs/Statistics For Data Science.md new file mode 100644 index 0000000..06ade10 --- /dev/null +++ b/blogs/Statistics For Data Science.md @@ -0,0 +1,60 @@ +

Why Should I Learn Statistics?

+ +Variation is an inevitability facet of life! Every process has variation.High variation means low quality. +**Decision makers make better decisions when they use all available information in an effective and +meaningful way. The primary role of statistics is to provide decision makers with methods for obtaining and +analyzing information to help make these decisions. Statistics is used to answer long-range planning +questions, such as when and where to locate facilities to handle future sales.** + + +**Just like weather, if we cannot control something, We should learn how to measure and analyze in +order to predict it, effectively.** + +``The aim of this blog is to provide you with hands-on +experience to promote the use of statistical thinking and techniques to apply them to make educated decisions +whenever you encounter variation in business data.`` + +

What Is Business Statistics?

+ +The main objective of Business Statistics is to make inferences (predictions, decisions) about certain +characteristics of a population based on information contained in a random sample. + +Business Statistics is the science of "good" decision making in the face of uncertainty and is used in many +disciplines, such as financial analysis, econometrics, auditing, production and operations, and marketing +research. It provides knowledge and skills to interpret and use statistical techniques in a variety of business +applications. +- Carefully planned statistical studies remove hindrances to high quality and productivity at every stage of +production, saving time and money. It is well recognized that quality must be engineered into products as +early as possible in the design process. One must know how to use carefully planned, cost-effective +experiments to improve, optimize and make robust products/services and processes data. + +Statistical topics are about decision-making with respect to the characteristics of a group of persons or objects +on the basis of numerical information obtained from a randomly selected sample of the group. + +

Types of Statistical Analyses:

+ +- ``Descriptive Statistics`` is concerned with summary calculations, graphs, charts, and tables. + +- ``Inferential Statistics`` is a method used to generalize from a sample to a population. For example, the +average income of all families in the US (the population) can be estimated from figures obtained from a +few hundred families (the sample). + + +

Statistical Population:

A statistical population is the collection of all possible observations with a specified +characteristic of interest. +**An example :** all the students in the College is population then ECE, Computer Science ,1st year,2nd Year and etc, are the sample. Note +that a sample is a subset of the population. +

Variable:

A variable is an item of interest that can take on many different values. + +

Types of Variables or Data:

+ +- ``Qualitative Variables`` are non-numerical variables that cannot be measured. Examples include gender, +religious affiliation, place of birth. + +- ``Quantitative Variables`` are numerical variables that can be measured. Examples include balance in +your checking account, number of children in your larger family. Note that quantitative variables are +either discrete (which can assume only certain values, and there are usually "gaps" between the values, +such as the number of bedrooms in your house) or continuous (which can assume any value within a +specific range, such as the air pressure in a tire). + +