Understanding data sets and their limitations. Knowing what to look for in a data set.
- A runner's 100 meter dash time,…a patient's heart rate,…the number of items a customer purchased…at the grocery store,…the number of students that failed an exam,…a customer's age, an employee's annual salary,…these are a mix of observations and measurements.…Each represents a tiny bit of data.…On their own they may tell us a tiny bit…about each person that was measured or observed,…but if we can get the sex, age, home address,…sales data and browser statistics…for the 20,000 customers that bought products…from our website last month,…now we have a rather significant pool of data.…
This massive pool of observations and measurements…it probably has hidden among it lessons…in how to better organize our website and our warehouse.…It could probably tell us how to more efficiently…and effectively reach our customers,…but in its disorganized state this massive pool of data…can't teach us very much.…The lessons only become known when the data is organized,…when it is made visual through charts,…and when it has been processed with the right formulas.…
Author
Eddie Davila
Released
9/18/2016Professor Eddie Davila covers statistics basics, like calculating averages, medians, modes, and standard deviations. He shows how to use probability and distribution curves to inform decisions, and how to detect false positives and misleading data. Each concept is covered in simple language, with detailed examples that show how statistics are used in real-world scenarios from the worlds of business, sports, education, entertainment, and more. These techniques will help you understand your data, prove theories, and save time, money, and other valuable resources—all by understanding the numbers.
- Calculate mean and median for specific data sets.
- Explain how the mode is used to assess a data set.
- Identify situations in which standard deviation can be used to investigate individual data points.
- Use mean and standard deviation to find the Z-score for a data point.
- List the three different categories of probability.
- Analyze data to determine if two events are dependent or independent.
- Predict possible outcomes for a situation using basic permutation calculations.
- Give examples of binomial random variables.
Skill Level Beginner
Duration
Views
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Introduction
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Welcome2m 20s
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1. The World of Statistics
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Is my data set good?3m 42s
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2. The Center of the Data
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Weighted mean4m 25s
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3. Data Variability
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4. Distribution and Relative Position
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5. Probability Explained
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Defining probabilty3m 46s
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Examples of probability3m 46s
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Types of probability4m 53s
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6. Multiple Event Probability
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Even more of Bayes theorem3m 53s
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7. How Objects Are Arranged
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8. Discrete vs. Continuous Probability Distributions
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9. Discrete Probability Distributions
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Expected monetary value4m 10s
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10. Continuous Probability Distributions
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Fuzzy central limit theorem2m 11s
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Conclusion
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Video: Is my data set good?