STATISTICS

• Statistics consists of a body of methods for collecting, analyzing and interpreting data

• Applied successfully to study:

• Effects of medical treatments
• Reaction of consumers to television advertising
• Accuracy of opinion polls Measure of central
Tendency
Descriptive
Measure of Spread

Statistics

Inferential
Descriptive Analytics:
• Used to describe, show or summarize data in a meaningful way
• Does not support any conclusions/ hypothesis beyond the data
Inferential Analytics:
• Used to make predictions or comparisons about the larger data(population) using small part of the
population
BASIC DEFINITIONS

• Types of Data: Discrete and Continuous

• Measures of Variability: Range(diff. b/w highest and lowest value), Variance(spread across average),
Standard Deviation(easily comparable)
• Scales of Measurement: Nominal, Ordinal, Interval, Ratio
• Distribution types

Positively Skewed Normal Distribution Negatively Skewed

• Population: Group of individuals or objects the researcher wants to learn more about
• Sample: Group of individuals or data drawn from population of interest
STATISTIC ANALYSIS TYPES
Univariate Analysis
Consists of single variable
Describe the data and find patterns
Central tendency measures &
dispersion
Graphs used for describing Data
• Frequency Distribution Table
• Bar Charts
• Histograms
• Frequency Polygons
• Pie Charts
Bivariate Analysis
Involves two variable
Determine the relationship using
scatter plot
One variable is contingent on the
values of the other variable
Correlation & covariance
Scatter plot:
Multivariate Analysis
Analysis of three or more
variables
Continuous or dichotomous
Multiple regression - the most
common method
Other methods include:
• Additive Tree
• Multivariate analysis of
variables(MANOVA)
• Cluster Analysis
IMPORTANT CONCEPTS

• Bayes Theorem: Probability of an event, based on prior knowledge of conditions that might be
related to the event
• Bivariate Analysis: Covariance(X,Y) = Σ ((X-μ)(Y-ν)) / n-1 , Correlation(X,Y) = 𝐶𝑜𝑣(𝑋,𝑌)/𝜎𝑋𝜎𝑌
• Hypothesis Testing: Hypothesis is a proposition made on the basis of limited evidence as a
starting point for further investigation
• Types of Error:
Reason for errors:
• Sample Size
• Significance level of the
Test
• The “true” value of
parameter
E.g.: Two drugs are to be compared in a clinical trial for use in treatment of disease X.
Hypothesis: Both Drugs are equally effective

Type I error – Both drugs are truly equally effective, but we conclude that Drug B is better
Type II error – Drug B is truly more effective, but there is no significant evidence that the two drugs
vary in effectiveness
VIRTUAL REALITY

• Computer generated 3D environments that allow the user to enter and interact with
alternate realities
• Types of VR:
• Fully Immersive
• Non-immersive
• Semi-immersive

• By 2022, its market is expected to reach a market size of 209.2 billion U.S. dollars
• Realising it being the future, companies like Facebook, Google an Apple are on
forefront with these technologies
APPLICATIONS OF VR

Architecture Manufacturing

Education & Training Entertainment

AUGMENTED REALITY

• Overlay of computer graphics on the real world i.e 3-D

virtual objects are integrated into a 3-D real
environment in real time
• A middle ground between VE and real environment
• Three major building blocks of AR: tracking and
registration, display technology and real time rendering

Types of AR based on display types

Optical See-Through
Virtual Retinal Systems
Video See-Through
Monitor Based AR and Projector Based AR
APPLICATIONS OF AR

Medical Military Training

Image guided Surgery

Engineering Design Manufacturing

Aircraft outfitting
ROBOTIC PROCESS AUTOMATION

• RPA automates repetitive & clerical tasks performed by humans

• Fits for unattended, rule driven, structured and event driven
tasks
Seeing the value in RPA:
Customer Satisfaction
Freeing up customer-service
personnel from forms & tabulation Resource Utilization
has made them available for Team available to handle tasks
attentive customer service. This that add most value to the
results in increased customer business. Able to handle spike
satisfaction. in demand promptly.

Productivity
Compared with humans, software
robots have been clocked
completing the same tasks about
five times faster. They also work
24/7 and don’t ask for time off,
don’t eat lunch, or don’t visit the
restroom.
Accuracy
There is a 100 percent accuracy in
RPA. The chances of clerical
errors reduces and more time is
saved that can be used to correct
any errors in the system.