First I learned about descriptive statistics which involves summarizing large amounts of data into meaningful information. This includes measures of central tendency such as mean, median and mode as well as measures of dispersion such as variance and standard deviation. Descriptive statistics helps us make sense of large datasets by providing valuable insights into the trends or characteristics observed within them. It also serves to test certain hypotheses or theories that may be related to these datasets making it an invaluable tool for decision making in many fields.
From there I moved on to inferential statistics which looks at how we can use a sample subset of data drawn from a population in order to make generalizations about the larger population itself. Inferential methods involve drawing conclusions from smaller samples in order to understand something more broadly applicable across populations without having access to all available data points themselves. By using calculative techniques such as hypothesis testing we can assess whether our conclusions are valid or if further research needs to be done before forming any definite conclusions about this population set at large.
Finally I am beginning to look at more advanced topics like Bayesian inference which implements prior knowledge gained through past experience when coming up with probability estimates based off observed outcomes within new experiments alongside other elements including evidence taken from current experiments themselves; helping statisticians form beliefs around certain events depending on their precision level desired thus allowing us obtain results even under circumstances where little relevant historical context exists upon which we could otherwise draw useful assumptions from alone..
Overall my studies thus far has provided me with an appreciation for just how powerful statistics can be when utilized properly within scientific investigations; giving researchers access critical insights into their respective topics while simultaneously helping companies leverage predictive analytics towards better forecasting activities crucial both operationally & strategically speaking alike thereby clearly emphasizing just how important learning & mastering this subject really is!
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