⏳ Mining deep into Data Mining - Statistics - PART I ⏳
Why do we have to know statistics?π€ As mentioned in the previous posts, we live in the world of data from which we can derive insightful information. Thus, Statistics play a vital role in processing and analyzing the data to make decisions and predictions. What actually is statistics? π Let's get more technical Statistics is the discipline that concerns the collection, organization, analysis, interpretation, and presentation of data . There are two types or classes of statistics. π Descriptive statistics π Inferential statistics Descriptive Statistics π π Descriptive statistics focuses more on analyzing, summarizing, and organizing data in the form of numbers or graphs. π Bar plots, histograms, pie-charts are used in visualizi...