11 Questions
Why do inferential statistics only provide an estimate of population data?
Because the sample data is not an exact representation of the entire population.
What is the main reason why probability is used in statistics?
To make reasonable estimates with limited certainty.
What will the first session of this module focus on?
Basic concepts of probability.
Why do statisticians talk in terms of probability when certainty is limited?
To make reasonable estimates about uncertain data.
What does the broad agenda of the session cover?
Basic concepts of probability and its properties.
What is the main purpose of inferential statistics?
To make inferences about a population based on a sample
Why do analysts sometimes work with a smaller sample of data instead of the entire dataset?
To save time and resources
In the scenario mentioned about Amazon, why did the QC department check a sample of 1,000 products?
To determine the defect rate for all products
What does EDA stand for in the context of data analysis?
Exploratory Data Analysis
When data analysts spend most of their time on EDA, what are they primarily focused on?
Exploring and deriving insights from data
What distinguishes inferential statistics from descriptive statistics?
Inferential statistics makes inferences about populations.
Explore the introductory module on 'Inferential Statistics' which builds upon the knowledge of Exploratory Data Analysis. Understand the importance of deriving insights from data exploration and discover patterns using various techniques. Dive into the world of inferential statistics to make informed decisions based on data analysis.
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