This video explains the basics of statistics, its use cases and core concepts such as sample and population, median, standard deviation, and correlation. Learn how to construct charts and analyze data through statistics. By the end of this video you should be able to make a simple statistical analysis, insert your data in a computer, plot charts to visualize your information and make a report with your findings. You will find the examples both entertaining and educational. Topics covered include:
- Overview. Learn what statistics is and why it is useful. Know how statistics differs from probability. The steps to perform statistics are discussed, including defining a problem, gathering, organizing, and analyzing data. We distinguish descriptive from inferential statistics.
- Measures of location. Master how to calculate measures of location such as average, median, quartile, maximum, and minimum. We will talk about both the general concepts and the mathematical formulas.
- Measures of dispersion. Understand the various measures of dispersion, including standard deviation, variance, and range.
- Visualization. Know how to visualize data through tables, plots, and charts. Learn how to construct charts through Excel. Examples of both quantitative data and qualitative data will be discussed.
- Bivariate data. Learn how to analyze two variables through statistics both through graphic methods and mathematical calculation. The concept of correlation is also discussed.
- Analysis and interpretation. Understand the analysis and interpretation of data. We explore several examples of misuse and misinterpretation in statistics and how to build a report on a statistical experiment.