Time for Day 2 of Machine Learning Mastery’s 7 day course on Statistics for Machine Learning. The assignment? List three methods that can be used for each descriptive and inferential statistics. 3️⃣✖️2️⃣
Let’s start with descriptive; or, “methods for summarizing raw observations into information that we can understand and share”
- Mean – an oldie but goodie. Thinking through examples from my day job: average time on page, average order amount, etc.
- Standard deviation – the one that was hammered into me in college stats and econometrics.
- Modality – this makes me think of gradient descent and the local vs. global maximum search.
Now on to inferential statistics; or, “methods that aid in quantifying properties of the domain or population from a smaller set of obtained observations called a sample”.
- Chi-square – I was to say I used these first two in various econ courses.
- Linear regression – mmmmmm that ML goodness.