Statistics helps to identify the meaningful trends in the data. Data Scientist should have statistical knowledge because it is used to derive the useful hidden insights from the data.
There are mainly two categories of statistics:
Descriptive Statistics: This part of Statistics deals with providing the description of the population i.e. providing characteristics of the data providing parameters.
The topics that come under Descriptive Statistics are as follows:
- Mean
- Mode
- Median
- Inter Quartile Range (IQR)
- Variance
- Standard deviation
Inferential Statistics: This part of statistics deals with making inferences about the population by analyzing the sample data extracted from the population.
The topics that come under Inferential Statistics are as follows:
- Probability distributions
- Hypothesis Testing
- T- Distributions
- Central Limit theorem
- Confidence Intervals
- Regression Analysis
- Comparison of Means
You can watch the following YouTube tutorial on Statistics for Data Science to get started:
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