Statistics and Probability

#statistics #probability #data #datascience #datasets

Akash Deep Nov 19 2021 · 1 min read
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Statistics

  • Statistics is the art of learning from data.
  • It involves data collection, describing it, analysis, and ultimately drawing conclusions.
  • Datasets

    The study of statistics revolves around datasets. Datasets can be either of the following:

    Population:

    Population includes all the elements in a dataset.

    Example:

    Collection of objects,persons or things.

    Sample:

    Samples consist of one or more observations drawn from a population (subset of population).

    Example:

    Students of Class X in a school.

    Probability

  • Probability is the likelihood or chance of an event happening.
  • Probability theory is a branch of pure mathematics, and forms the theoretical basis of statistics.
  • Wikipedia says:

    Probability is the branch of mathematics concerning numerical descriptions of how likely an event is to occur, or how likely it is that a proposition is true.   

    Statistics and Probability in real life

    Statistics and Probability play a vital role in daily life, without our knowledge.

    Examples:

  • Have you ever checked the weather forecast to decide on carrying an umbrella?
  • Have you ever felt nervous about a cricket match toss?
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