Practical Statistics for Data Scientists: 50 Essential Concepts

by Peter Bruce

Do not confuse standard deviation (which measures the variability of individual data points) with standard error (which measures the variability of a sample metric).

A QQ-Plot is used to visually determine how close a sample is to the normal distribution.

The R function dbinom calculates binomial probabilities.

Binomial models in R

Random

Key Terms for Multiple Linear Regression

The t-statistic — and its mirror image, the p-value — measures the extent to which a coefficient is “statistically significant” — that is, outside the range of what a random chance arrangement of predictor and target variable might produce. The higher the t-statistic (and the lower the p-value), the more significant the predictor.