Basics

Question 1

What are statistics?

Answer 1

Statistics refers to a collection of facts (based on observations organized into numerical form).

Question 2

What are frequentist statistics?

Answer 2

a type of statistical approach
where conclusions are made based on the frequency of an event.

Question 3

What is positive skewness?

Answer 3

asymmetrical distribution with long right tail.

Question 4

What is negative skewness?

Answer 4

asymmetrical distribution with long left tail.

Question 5

What is illusory correlation?

Answer 5

when people believe that a
relationship exists between two things when no such relationship exists in reality.

Question 6

What is regression?

Answer 6

a measurement that is used to quantify how the change in one
variable will affect another variable.

Question 7

What is regression analysis used for?

Answer 7

to determine the relationship
between two variables such that the value of the unknown variable can be estimated using the knowledge of the known variables.

Question 8

What is the goal of linear regression?

Answer 8

to find the best-fitted line
through the data points.

Question 9

What are outliers?

Answer 9

observations that differ strongly (different properties) from the other
data points in the sample of a population.

Question 10

What is variance?

Answer 10

the average of the squared deviations from the mean across the number of samples.