How the "Normal" Helps Us To Identify the Unusual!
Coming back from an amazing trip to India and after a hiatus of a couple weeks Dr. Kruti Lehenbauer is back to sharing #PostItStatistics to simplify and demystify statistical concepts to make them more usable in the real business world by business experts everywhere!
If you missed our earlier editions, here are the links so that you can revisit them as required:
This week, we began our journey into the deeper world of statistics with a foray into the Empirical Rule that embodies a Normal Distribution of a variable.
We learned how to calculate Z-scores and understood how Standard Normal Distribution acts as a map to guide comparisons on a manageable scale!
We helped Old MacDonald compare his market performance for Apples and Oranges while singing the E-I-E-I-O method for Z-scores.
The Z-scores lay the foundation for Hypotheses Testing, Statistical Significance, and related metrics, which we will be exploring in the coming week in more detail.
An important aspect that was considered before proceeding on the Hypotheses Testing and beyond was that of sample size "n" and why it matters so much for distributions of a variable.
We revisited Old MacDonald with some new Sample Related Data to figure out how much impact the Sample Size "n" has on decision-making.
Dr. K has started a hashtag called #postitstatistics on LinkedIn, Instagram, Facebook, X, and YouTube to share her Post-It Statistics in a variety of formats (video with music, anyone?)
Here is the roundup of this week's posts from #PostItStatistics.
Click on the titles to see the original posts with more detailed explanations:
领英推荐
(Why Sample Sizes Matter?)
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About "The Data Whisperer":
Dr. Kruti Lehenbauer wrote a book on "Introduction to Business Statistics" a couple of years ago after 20+ years of teaching Business & Statistics at various Universities.
You can buy Dr. K's Business Statistics Book on Amazon (Kindle & Print editions available).
Dr. Lehenbauer is not just a data scientist, but a passionate explorer of data realms, unraveling insights that shape strategic trajectories.?With a profound understanding of statistics, an intricate grasp of diverse sectors, and relentless curiosity, she transforms complex data into actionable narratives of growth and innovation, especially in the face of growing AI implementations in business.
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