Theory of Statistics: Basics and Fundamentals

Synonyms

Estimation theory; Probability distributions; Statistical inference; Statistical models.

Glossary

Bayesian:

The school of statistics that is based on the degree of belief interpretation of probability

Estimator:

Any procedure that provides estimates of the value of an unknown quantity

Inference:

Body of statistical techniques that deal with the reliability of the estimate that we derive from a set of data

Likelihood:

Function indicating how likely a particular population is to produce an observed sample

Linear model:

Model specifying a linear relationship between a dependent variable and a set of independent variables

Mean:

Arithmetic average of all values

Population:

Large set of objects of a similar nature which is of interest

Sample:

Portion of the elements of a population

Introduction

Statistics is a branch of mathematics used to summarize, analyze, and interpret data. There are two main branches of statistics: descriptive and inferential. Descriptive statistics is used to...