Statistics for Data Science and Business Analysis

In this lecture we show the other classification of variables - levels of measurement

Following the knowledge on types of data, we look into techniques for visualizing categorical variables, namely frequency distribution tables, bar charts, pie charts and Pareto diagrams.

Exercises on visualization techniques for categorical variables.

Following the categorization through the types of data, we look into the frequency distribution table for numerical variables.

Exercise on frequency distribution table for numerical variables.

Building up on the frequency distribution table, we learn how to illustrate data with histograms.

Exercise on histograms.

Descriptive statistics.

In this lecture we explore the different ways to demonstrate relationship between variables.

Exercise on cross tables and scatter plots.

This lesson will introduce you to the three measures of central tendency - mean, median and mode.

Exercise on the measures of central tendency.

In this lesson we show the most commonly used tool to measure asymmetry - skewness, and its relationship with the mean, median, and mode.

An exercise on skewness.

We start exploring the most common measures of variablity. This lesson focuses on variance.

An exercise on variance.

We build up on variance, by introducing standard deviation and the coefficient of variation.

An exercise on standard deviation and coefficient of variation.

We continue with the most common measure of interconnection between variables: covariance.

An exercise on covariance.

Correlation coeffcient - the quantitative representation of correlation between variables.

An exercise on the correlation coefficient.

This is the practical example on descriptive statistics. 

It's a hands-on activity covering all lessons so far - types of data; levels of measurement; graphs and tables for categorical and numerical variables, and relationship between variables; measures of central tendency, asymmetry, variability, and relationship between variables.

We apply all the acquired knowledge on a real-life data for a real estate company and create business analytics from scratch.

Exercises based on the practical example.

An introductory lesson that shows what is to follow in the section inferental statistics.

We look into the Standard Normal distribution by deriving it from the Normal distribution, through the method of standardization. We elaborate on its use for testing.

An exercise on the Standard Normal Distribution.

The Central Limit Theorem - one of the most important statistical concepts. Definition and an example.

We introduce the standard error - an important ingredient for making predictions.

We explore the estimators and estimates, and differentiate between the two concepts.

This is the heart of the section - confidence intervals.

An exercise on confidence intervals.

Following several questions in the Q&A sections we have decided to add a lecture which digs a bit deeper into what confidence intervals are.

We combine our knowledge on confidence intervals with that on the Student's T distribution, by making inferences using a small sample.

An exercise on confidence intervals, when population variance is uknown.

A deeper dive into the drivers of confidence intervals through the margin of error.

We show real life examples of confidence intervals. In this lesson, we focus on dependent samples, which are often found in medicine.

An exercise on confidence intervals for two means (dependent samples).

We carry on with the applications. This time the example is with independent samples, where the population variance is known.

An exercise on confidence intervals for two means (independent samples).

More often than not, we do not know the population variance, as it is too costly (or impossible) to have data on the whole population. We explore how to deal with the problem, through sample variance. We start from the simpler case, where we assume that the variance of the two samples is equal.

An exercise on confidence intervals for two means (independent samples).

We conclude the section on confidence intervals with the example on independent samples, where the variance is unknown and assumed to be different. That is the most common case.

This is a practical example on inferential statistics.

We apply all the knowledge we have on descriptive statistics and inferential so far.

The data is based on purchases in a shoe shop. We explore the sales of different products and shops, and try to manage the inventory of our company better.

This is a practical example on inferential statistics.

We apply all the knowledge we have on descriptive statistics and inferential so far.

The data is based on purchases in a shoe shop. We explore the sales of different products and shops, and try to manage the inventory of our company better.

Please find an exercise file and a solution file attached to this lecture.

Whenever we do hypothesis testing, we either accept or reject a hypothesis. In this lecture, we explain the rationale behind testing.

There are two errors one can make when testing - false positive and false negative. In order to be better statisticians, we must be acquainted with those issues.