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Statistics - Coggle Diagram

- - - - without context, it's difficult to understand
      - law of truly large numbers
      - law of truly small numbers
        
        what's worth worrying (or not)
  - - - add armour to engines
- - - - normal - distribution of data that has roughly the same amount of data on either side of the middle and has its most common values around the middle of the data
      - symmetrical bell shaped
  - - - value that appears most in our data set
    - - two values that are most common
  - - - Mean increase
        
        Median fell
        
        why?
        
        outliers were earning more money so push mean up
- - - - the larger the distance, the more spread out our data is
    - - looks at spread of the middle 50% of data
        
        e.g. IQR of YouTube audience
  - - - Standard Deviation
        
        average amount we expect a point to differ (or deviate) from the mean
- - - - t-value = (Observed data - what we expect if the null is true) / Average Variation
      - If the t-statistic is greater than the critical t-value, we reject the null hypothesis
      - We can reject the null hypothesis if the p-value is smaller than our chosen alpha level
    - - Can extract variation
      - t-statistic tell us how many standard errors away from the mean our observed difference is