Exploring Key Statistical Theories
Statistics is the grammar of science. Here are some fundamental theories that shape the field:
Law of Large Numbers
The law of large numbers states that as the sample size increases, the sample mean will get closer to the expected value.
Central Limit Theorem
This essential theorem posits that the distribution of sample means approximates a normal distribution as the sample size becomes larger.
Bayesian Inference
Bayesian inference is a method of statistical inference in which Bayes' theorem is used to update the probability for a hypothesis as more evidence or information becomes available.