Confidence Interval In a way the idea of inferential statistics (and machine learning) revolve around estimation of population characteristics from sample. Often the estimation is incorrectly calculated as a single point. For example, one may take a random sample of customers in a shop and calculate the average amount …

Sample A sample is a subset of a population. Most of the time it is too expensive or impossible to collect population data. The whole idea of inferential statistics (which later evolved to machine learning and AI) revolves around estimation of population parameters by studying parameters of samples. Samples and sample …

Probability distribution In our last article we focused on basics of probability and discussed how it is calculated empirically. In this article we will try to understand how probabilities can be calculated from mathematical functions. There are certain functions for which probabilities can be calculated using formulas …

Probability Probability is the chance of something happening. For example chances of winning a lottery. Or chances of India winning a particular cricket match. Or chances of a salesperson making a sales etc. In other words, probability quantifies uncertainty. Mathematically, it is defined by ratio of number of outcomes …

Locations Often, it is not possible or nor feasible to display plots to express features of data. In such cases we need some other ways to summarize. If you recall from our last article, histograms are mostly to understand How many in which, min, max, most occuring or How many less than or more than in data. For e.g. …

Introduction Data Science is a field of study and practice that aims to extract knowledge and information from data. Scientific methods, processes, statistics, mathematics and domain knowledge is used to do so, of course using computational power. Although the term was coined and gained popularity in recent years, one …

Why do we need exploratory analysis and summarizing data Suppose that you have a information of weights of 1000 students of a school. To understand an anything from it, one way is to going through the data row by row. For e.g. if you want to know what is the lowest weight out of these 1000 weights, you may start …