7 Basic Probability & Statistics Concept Every Student Should Know

In statistics you will come across a lot of data, tests and hypothesis. Statistical hypothesis testing, more commonly known as significance testing, will help you conduct statistical interference to your data. The data sets are compared against a synthetic data set from an idealized model and this is compared as an alternative to an idealized null hypothesis that proposes no relationship between two data sets. A must know basic for most statistic beginners.

Normal distribution is often used in statistics to 'normalize' or to represent real-valued random variables whose distributions are not known. Normal distribution also helps us map scores using the Z Table Normal distribution also known as Gaussian distribution is one of the most common distributions used in statistics and is a must know for most students.

A sub-branch of hypothesis testing, it is often necessary for students to know well the difference between Type 1 errors and Type 2 errors. This can be very confusing for beginners and one must know how to identify and tell apart between the two.

If you ever want to pair the value of one of the variable with the value of another variable, you will be using bivariate data. It helps us study the association between the variables. Bivariate data study models make use of both graphical and tabular displays and a student of statistics must be familiar with both.

Whether it be the Monty Hall problem or die rolling problems or coin flips, a student looking to advance in the field of statistics and probability must be well aware of the basics of probability and know it on the back of their hand. Sets, subsets, data types, venn diagrams and before to know it, this work you deemed 'easy' gets real tough, real fast. So be sure, not to ignore the basics of probability.

Confidence interval is a type of interval estimate method in which we fairly certain that our true value lies in the range of value selected as confidence intervals. This helps us predict both the chances of our true value lying or not lying in our confidence intervals and hence is very useful.

You are bound to pull your hair out every once in a while as a statistic student. But don't let it rattle you. Even the best statisticians have bad days and the only way to overcome those are constant dedication and patience. Make sure to take down proper notes in your classrooms and study the same at home. The concepts of statistics are easy to understand and easy to make silly mistakes in. The more your practice the more fluent you get and the less mistakes you are bound to make.