Mastering Statistics with Python: Comprehensive Guide and Techniques

Statistics

• Statistics is the art of learning from data.
• It involves data collection, describing it, analysis, and ultimately drawing conclusions.

Datasets

The study of statistics revolves around datasets. Datasets can be either of the following:

Population

Population includes all the elements in a dataset.

Example:

Collection of persons, things, or objects.

Sample

Samples consist of one or more observations drawn from a population (subset of population).

Example:

Students of Class X in a school.

Probability

• Probability is the likelihood or chance of an event happening.
• Probability theory is a branch of pure mathematics, and forms the theoretical basis of statistics.

Wikipedia  says:

Probability is the quality or state of being probable, the extent to which something is likely to happen or be the case.

Statistics and Probability in real life

Statistics and Probability play a vital role in daily life, without our knowledge.

Examples:

• Have you ever checked the weather forecast to decide on carrying an umbrella?
• Have you ever felt nervous about a cricket match toss?