Book Image

Building Statistical Models in Python

By : Huy Hoang Nguyen, Paul N Adams, Stuart J Miller
Book Image

Building Statistical Models in Python

By: Huy Hoang Nguyen, Paul N Adams, Stuart J Miller

Overview of this book

The ability to proficiently perform statistical modeling is a fundamental skill for data scientists and essential for businesses reliant on data insights. Building Statistical Models with Python is a comprehensive guide that will empower you to leverage mathematical and statistical principles in data assessment, understanding, and inference generation. This book not only equips you with skills to navigate the complexities of statistical modeling, but also provides practical guidance for immediate implementation through illustrative examples. Through emphasis on application and code examples, you’ll understand the concepts while gaining hands-on experience. With the help of Python and its essential libraries, you’ll explore key statistical models, including hypothesis testing, regression, time series analysis, classification, and more. By the end of this book, you’ll gain fluency in statistical modeling while harnessing the full potential of Python's rich ecosystem for data analysis.
Table of Contents (22 chapters)
1
Part 1:Introduction to Statistics
7
Part 2:Regression Models
10
Part 3:Classification Models
13
Part 4:Time Series Models
17
Part 5:Survival Analysis

Summary

In the first section of this chapter, we learned about types of data and how to visualize these types of data. Then, we covered how to describe and measure attributes of data distribution. We learned about the standard normal distribution, why it’s important, and how the central limit theorem is applied in practice by demonstrating bootstrapping. We also learned how bootstrapping can make use of non-normally distributed data to test hypotheses using confidence intervals. Next, we covered mathematical knowledge as permutations and combinations and introduced permutation testing as another non-parametric test in addition to bootstrapping. We finished the chapter with different data transformation methods that are useful in many situations when performing statistical tests requiring normally distributed data.

In the next chapter, we will take a detailed look at hypothesis testing and discuss how to draw statistical conclusions from the results of the tests. We will also...