Basic Statistics - Applied Time Series Analysis in Python and TensorFlow

👉Get the course at 87% off: https://www.udemy.com/course/applied-time-series-analysis-in-python/?couponCode=TSPYTHON2021 Link to the full notebook: https://github.com/marcopeix/AppliedTimeSeriesAnalysisWithPython/blob/main/HOTSAP_basic_statistics.ipynb Link to the datasets: https://github.com/marcopeix/AppliedTimeSeriesAnalysisWithPython/tree/main/data Email me for a coupon if the one above expired: peixmarco@gmail.com -------------------------------------------------- This might be review for some of you, but these concepts represent the building blocks of time series analysis using the statistical approach. In this lesson, we will differentiate between descriptive and inferential statistics.Descriptive statistics are a set of values and coefficients that summarizes a dataset. It provides us with information about tendency and variability. For example, the mean, the median, standard deviation, minimum and maximum values are all part of descriptive statistics.Visualizations are another important aspect of descriptive statistics. They allow us to quickly gain insights and steer the analysis in the right direction. Usually, histograms and scatter plots are often used in time series analysis, and you will see how important they are, once we start modelling. Inferential statistics are used to infer properties from a dataset. These properties will help us to forecast the future. Also, this is the time where we test different hypotheses. Now, hypothesis testing is a major component of inferential statistics. It allows to determine if the trend we observe is due to randomness or if there is a real statistical significance.To do so, we must define a hypothesis and a null hypothesis. The hypothesis is the trend we are trying to extract from the data, while the null hypothesis is its exact opposite.Then, we can run some tests to see if there is statistical significance or not. In this case, the F-statistic is large, and the p-value for our parameters is less th