Understand the Fundamentals of Statistics for Becoming a Data Scientist · Understand Type of Analytics · Probability · Central Tendency · Variability ...Signin[June]CallforSubmissionsEditor'sPicksTop10StoriesSubmitStraightintoyourinboxThe8BasicStatisticsConceptsforDataScienceUnderstandtheFundamentalsofStatisticsforBecomingaDataScientistShirleyChenFollowApr6,2020·9minreadFeelfreetofollowmeonMedium:)Statisticsisaformofmathematicalanalysisthatusesquantifiedmodelsandrepresentationsforagivensetofexperimentaldataorreal-lifestudies.Themainadvantageofstatisticsisthatinformationispresentedinaneasyway.Recently,Ireviewedthewholestatisticsmaterialsandorganizedthe8basicstatisticsconceptsforbecomingadatascientist!UnderstandTypeofAnalyticsProbabilityCentralTendencyVariabilityRelationshipBetweenVariablesProbabilityDistributionHypothesisTestingandStatisticalSignificanceRegressionUnderstandTypeofAnalyticsDescriptiveAnalyticstellwewhathappenedinthepastandhelpabusinessunderstandhowitisperformingbyprovidingcontexttohelpstakeholdersinterpretinformation.DiagnosticAnalyticstakesdescriptivedataastepfurtherandhelpsyouunderstandwhysomethinghappenedinthepast.PredictiveAnalyticspredictswhatismostlikelytohappeninthefutureandprovidescompanieswithactionableinsightsbasedontheinformation.PrescriptiveAnalyticsprovidesrecommendationsregardingactionsthatwilltakeadvantageofthepredictionsandguidethepossibleactionstowardasolution.ProbabilityProbabilityisthemeasureofthelikelihoodthataneventwilloccurinaRandomExperiment.Complement:P(A)+P(A’)=1Intersection:P(A∩B)=P(A)P(B)Union:P(A∪B)=P(A)+P(B)−P(A∩B)IntersectionandUnionConditionalProbability:P(A|B)isameasureoftheprobabilityofoneeventoccurringwithsomerelationshiptooneormoreotherevents.P(A|B)=P(A∩B)/P(B),whenP(B)>0.IndependentEvents:Twoeventsareindependentiftheoccurrenceofonedoesnotaffecttheprobabilityofoccurrenceoftheother.P(A∩B)=P(A)P(B)whereP(A)!=0andP(B)!=0,P(A|B)=P(A),P(B|A)=P(B)MutuallyExclusiveEvents:Twoeventsaremutuallyexclusiveiftheycannotbothoccuratth