Wednesday, 8 June 2016

Statistical approach

To address the limitations of anecdotes, we have the tools of statistics, including:
Collecting data: We analyze the data from a large national survey designed explicitly with the goal of generating statistically valid inferences about US population.
Descriptive statistics: we'll statistics to summarize the data generated concise, and evaluate different ways to visualize data.
Exploratory data analysis: We are looking for patterns, differences, and other function to answer the questions we are interested in. together This time we look for inconsistencies and define constraints.
Hypothesis testing: Where do we see clear effects, such as a difference between two groups, we will examine whether the effect is real, or or it could have happened by chance. 
Estimate: No return data from a sample of properties treasures in the general population.

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