Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Basics of Statistics - Imarticus Learning


Published on

Basics of Statistics - Imarticus Learning

Published in: Data & Analytics
  • Be the first to comment

  • Be the first to like this

Basics of Statistics - Imarticus Learning

  1. 1. Basic Concepts in Statistics
  2. 2. Private and Confidential 2 Brief Overview: Population • We often have questions concerning large populations. • If we want to know the average weight of all 20 year olds in the India, then the population is all individuals who are 20 years old and living in the India. Universe Population • If we want to know the proportion of middle aged men who do not have a heart attack after taking a certain drug, then the population is the set of all middle aged men.
  3. 3. Private and Confidential 3 Brief Overview: Population Population: The entire set of possible observations in which we are interested. Gathering information from the entire population is not always possible due to barriers such as time, accessibility, or cost.
  4. 4. Private and Confidential 4 Population and Sample • Usually populations are so large that a researcher cannot examine the entire population. • Therefore, a subset of the population is selected to represent the population in a research study. Sample: It is a subset of population from which inferences are drawn about population.
  5. 5. Private and Confidential 5 • Sample data provide only limited information about the population. • As a result, sample statistics are generally imperfect representatives of the corresponding population parameters. Sample POPULATION INFERENCE SAMPLE
  6. 6. Private and Confidential 6 Population and Sample The goal is to use the results obtained from the sample to help answer questions about the population.
  7. 7. Private and Confidential 7 Sample Space Examples: • Smay be the set of all possible outcomes of dice roll S = {1,2,3,4,5,6} • Number of hours people sleep S = {h: h ≥ 0 hours} • Temperature recorded in Mumbai for last 10 years. S = {T : T [5C,41C] } • Do you brush teeth everyday? S = {yes, no} Definition: A sample space S is the set of all possible outcomes of a (conceptual or physical) random experiment. (Ω can be finite or infinite.)
  8. 8. Private and Confidential 8 Types of Data Discrete Quantitative data are called Discrete if the sample space contains a finite or countably infinite number of values. Quantitative data are called Continuous if the sample space contains an interval or continuous span of real numbers. Continuous Qualitative data are called Categorical if the sample space contains objects that are grouped or categorized based on some qualitative trait. Categorical
  9. 9. Private and Confidential 9 Two Types of Random Variables Continuous Random Variables • Number of Sales • Number of Calls • Shares of Stock • People in Line • Mistakes Per Page Discrete Random Variables:
  10. 10. Private and Confidential 10 Two Types of Random Variables Continuous Random Variables Discrete Random VariablesContinuous Random Variables: Length Depth Time Volume Weight
  11. 11. Thank you Mumbai | Bangalore | Pune | Chennai | Jaipur ACCREDITED TRAINING PARTNER: