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Monte

Data and sampling

  1. Read it, not yet
  2. Practice it, not yet
  3. Master it, not yet

Statistics is using data to make a decision. You can't check everyone, so you check a slice (the sample) and let it speak for the whole group (the population).

Why it matters

You can't taste the whole pot, so you stir and taste a spoonful. Statistics is learning to stir well.

Every dashboard, survey and experiment is a spoonful. Whether it speaks for the pot depends on how it was taken.

  • ProductSurvey only your happiest users and the product will always look great.
  • MarketingIs segment a label or a number? It decides the chart and the math.
  • Data workBefore any model, check what each column is and how it was collected.

Tennis example

You want the first-serve percentage of every player on tour (the population). You can't chart every match, so you chart 200 (the sample). The sample's number is p hat; the true one is p.

Check yourself

  1. Describe vs infer?

  2. A gym surveys 150 of its 2,400 members. Population and sample?

  3. Random, stratified, or risk-based?

The trap

The mistake people make most on this one.

A bigger sample fixes randomness, not bias. 10,000 app users who answered a survey say nothing about the ones who ignore surveys. That is a convenience sample.

Formulas

4 formulas and a way to remember them.
Quantitative or qualitative
Quantitative: numbers you can average. Qualitative: labels.
Discrete or continuous
Discrete: counted. Continuous: measured.
Univariate or multivariate
Univariate: one column. Multivariate: several.
Population and sample
Population: N, μ, σ, p. Sample: n, x bar, s, p hat.
Remember it
A name is a label, a price is a number. All players on tour are the population; your 200 matches, the sample.

Watch and go deeper

3 free videos and pages.