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