📚 What You’ll Learn in This Lecture:

• 1. Statistics Fundamentals:
  • What is Statistics? (The art of learning from data)
  • Understanding the difference between Population and Sample.
  • Exploring the Major Branches of Statistics: Descriptive vs. Inferential.
  • The core Purpose of Statistical Analysis.
• 2. All About Data:
  • Distinguishing between Unstructured and Structured Data.
  • Identifying Variables and Cases within datasets.
  • A deep dive into the Classification of Data:
    • Categorical (Qualitative) Data and Numerical (Quantitative) Data.
    • Time-series Data vs. Cross-sectional Data.
    • The four critical Scales of Measurement: Nominal, Ordinal, Interval, and Ratio. We’ll cover their properties, differences, and real-world examples.