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Inferential Statistics Ib - Frequentism

Learning objectives

This assignment takes you on a brief journey through frequentist statistics. You will explore

  • the z-statistic
  • the t-statistic
  • the difference and relationship between the two
  • the Central Limit Theorem, its assumptions and consequences
  • how to estimate the population mean and standard deviation from a sample
  • the concept of a sampling distribution of a test statistic, particularly for the mean
  • how to combine these concepts to calculate confidence intervals and p-values
  • how those confidence intervals and p-values allow you to perform hypothesis (or A/B) tests

Prerequisites

For working through this notebook, you are expected to have an understanding of:

  • the idea of a random variable
  • what a probability density function (pdf) is
  • and the cumulative density function
  • what the Normal distribution is at a high level

It will be helpful if you are familiar with the concept of a sampling distribution, but this assignment will introduce this and give you hands on experience. As such, this notebook will take you from a basic understanding of random variables, and probability and bridge the gap to applying it in Python before moving on to a real world application.