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Statistics For Data Analysis
Statistics For Data Analysis
Analysis
Types of Statistics
Descriptive statistics is the analysis of data that helps to describe, show and summarize data in a
meaningful way
● Measure of Variability
○ Range
○ Variance
○ Dispersion
Measure of Central Tendency
● Mode: The most frequent value in the dataset. If the data have multiple values that
occurred the most frequently, we have a multimodal distribution
● Range: The difference between the highest and lowest value in the dataset
● Variance: The average squared difference of the values from the mean to measure how
spread out a set of data is relative to mean
● Standard Deviation: The standard difference between each data point and the mean and
the square root of variance
● Quantiles: Values that divide the number of data points into four more or less equal parts,
or quarters
Inferential Statistics
● Inferential statistics is an important concept that deals with drawing conclusions based on
small samples collected from the entire population.
● Basic Terminologies:
○ Population is the set of resources from where we can collect data
○ Sample is nothing but a subset of the Population which is used for sampling of data and in
inferential statistics to predict the outcome.
○ Variable can be a number, a characteristic, or a quantity that can be counted. It can be also
called a data point.
Five point Summary
● The minimum
● The median
● The maximum
Q1 median Q3
min max
Boxplot