The field of statistics is the science of learning from data. Statistical knowledge helps you use the proper methods to collect the data, employ the correct analyses, and effectively present the results. Statistics is a crucial process behind how we make discoveries in science, make decisions based on data, and make predictions. Statistics allows you to understand a subject much more deeply.
STATISTICS — Is known as to be the top prerequisite for a Data Science job. I personally did understand the few concepts when reading about Linear Regression, but if someone randomly asked me about Standard Deviation, I would be confused for sure.
So in this article, I have tried to build up a friendly approach towards some frequently asked Statistics questions. I am sure this will be beneficial to many.
Common Terms:
- Mean
- Mode
- Median
- Variance
- Standard Deviation
- Z-score
- Correlation
- Normal Distribution
- Empirical Rule
- Sampling
Also lets keep in mind the python library **.describe() , **this will give a hands on practice prior to starting off our Understanding.
Figure 1
I will be referring to this Figure in the further read.
Lets get started!
1. Mean
Also known as one of the Central tendencies, Mean is basically the average of all the data points present for a feature.
But what is Central Tendency?
Central Tendency is used to indicate where does the middle or center of the distribution of our data lies.
Question: Which of these measures are used to analyze the central tendency of data?
a) Mean and Normal Distribution.
b) Mean, Median and Mode.
c) Mode, Alpha & Range.
d) Standard Deviation, Range and Mean
e) Median, Range and Normal Distribution.
Solution (b): The mean, median, mode are the three statistical measures which help us to analyze the central tendency of data. We use these measures to find the central value of the data to summarize the entire data set.
Calculation:
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