2024-03-14T00:42:31+03:00[Europe/Moscow] en true <p>Statistical Inference</p>, <p>Sampling Error </p>, <p>What are the pros of statistical inference?</p>, <p>What are the cons of statistical inference?</p>, <p>What is probability?</p>, <p>What is the Independence assumption?</p>, <p>What is the law of large numbers?</p>, <p>What is the meaning of the word 'favorable'?</p> flashcards

Inferential Statistics & Probability

Mini section before the normal distribution and Z scores

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  • Statistical Inference

    The process by which we use data to answer important questions

  • Sampling Error

    .

  • What are the pros of statistical inference?

    1. The only means where we can take conclusions from data from a sample and apply them to a population

    2. Very effective for determining the likelihood of a given conclusion

    3. Useful for observing patterns and deviations from said patterns

  • What are the cons of statistical inference?

    1. All conclusions are a probability, they can't prove anything 100%

    2. The real world doesn't always behave like data and there will be things that inference can't account for

  • What is probability?

    Hard to define, but is like a range of 1.0 - 0 where the higher a value/result, the greater the likelihood an event will happen

  • What is the Independence assumption?

    Observations/cases in a dataset are independent from each other, they do not effect or influence each other

  • What is the law of large numbers?

    A large enough or repeated sample's mean will begin to mimic the population mean as it grows

  • What is the meaning of the word 'favorable'?

    Just means the outcome you want to happen