In This Chapter
Understanding the basic types of measurement
Learning the fundamental statistical measures of central tendency
Understanding hypothesis testing
This chapter introduces some of the most important statistical concepts you need to get started with big data. It also introduces several summary measures that represent the key properties of a dataset.
A dataset may consist of the elements of a population of interest, or it may take the form of a sample. A sample is a subset of a population; it’s chosen in such a way that it accurately represents the underlying population. For most empirical applications, sample data is used instead of population data due to the time and cost required to analyze an entire population.