Descriptive Statistics

Binomial

The likelihood of observing a certain outcome when performing a series of experiments for which thre are only two possible outcomes such as heads and tails.

Poisson

It is a hypothetical distribution in statistics that is dependent on time intervals.

Z test

It is a hypothetical test in statistics used for significant differences between population mean when we follow a normal distribution

Conditions of Z test

The sample size is greater than 30

Population SD is known.

T Test

It is a statistical method used to determine if there is a significant difference between 2 means of 2 groups which may be related in sample.

Conditions

Sample size is less than 30

Population SD is unknown.

Regression

A statistical method used in data science and economics to model a relationship of a dependent and independent variable allowing for the prediction of future outcomes.

Correlation

In estimation process, we discuss about 2 random variables and tell the nature of the equation.

It is limited to 0 and 1.

Hyperbolic

It is a continuous probability distribution that has a bell shaped curve, similar to normal distribution with heavier tail.

Qualitative data

Is non sumarical, groups of data that are defined by their characteristics,in terms of language rather than values.

Why do people prefer chocolate over vanilla?

Quantitative data

If refers to information that can have a numerical value.

It is collected through the surveys and experiments to identify patterns.

Eg; Chocolate ice-cream is more liked by people than Vanilla. 15 Vs 5.