Inferential Statistics – Part 1

Introduction: Inferential Statistics :

The process of “inferring” insights from sample data is called “Inferential Statistics”

Basics of Probability:

In the topic we will go through:

  • Basic definition of probability
  • Multiplication rule of probability
  • Addition rule of probability
  • nCr (Combinatorics)

Random Variables

Random variables are quantities with distinct characteristics and behavior.

  1. Random variables are denoted by capital letters
  2. Random variables are associated with random processes
  3. Random variables give numbers to outcomes of random events.
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