3 Introduction to Statistics, Probability, and Information Theory for Analytics
Statistics is an important and a necessary subject to gain a better understanding of the predictive analytics. However, it is so vast that it itself can be a complete book. Some of you may have studied probability and/or statistics in another course. Here, the attempt is to review and focus on the key concepts that are most necessary to understand the concepts of predictive analytics.
First, we introduce some basic terms [1].
- Population—a complete list of all the observations in a study.
- Sample—a subset of a population. It is usually a small portion of the population that is being analyzed.
- Parameter—a measure that is calculated on ...
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