Probability and Statistics Made Easy: Essential for Data Scientists

In this video, we will go over the differences between probability and statistics.

📈First, we will cover two areas of statistics, descriptive and inferential statistics, then talk about the difference between probability and statistics. Finally, we’ll touch on the relationship between the two.

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Contents of this video:
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00:00 Introduction
00:53 Descriptive Statistics
01:23 Inferential Statistics
02:10 Data Scientist Job Market Trend Example
03:28 Probability
05:01 Difference Between Probability Theory and Inferential Statistics
07:30 The Relationship Between Probability and Statistics
08:05 Two Schools of Inferential Statistics
09;14 Summary

[Okay_nl]

You’re one of the best teachers out there!

[abhishekghosh]

thank u for your knowledge mam it helped me to understand concept better.

[jasdeepsinghgrover]

One line answer in my opinion: When the sample space is completely known then probability otherwise statistics.

As soon as you make certain distribution and correlation assumptions, statistics problems can be handled with probability.

Please correct me if I am wrong. I believe even the most complex methods like MCMC should come in probability while some of the most practical ones like Bootstrapping, simulated annealing (non-linear optimization on data without assumed distribution) should come in statistics.

[danielrad]

On the slide "Probability vs Statistics", I think the first bullet point should be "...to model non-deterministic systems", rather than "unpredictable systems"

[tushb]

I understood the concept and relationship. Thank you ❤!! Best teaching.. also if I take ur course will be assisting job placement. Plz let me know

[mayonnaisebagel]

Thank you so much that’s really helpful!