5. Bias and Variance | Inferential Statistics Tutorial | Inferential Statistics For Beginners |
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🔥 Welcome to this Inferential Statistics Tutorials for Beginners. 🔥
Introduction to Bias and Variance: Statistical bias is anything that leads to a systematic difference between the true parameters of a population and the statistics used to estimate those parameters. Unlike range and interquartile range, variance is a measure of dispersion that takes into account the spread of all data points in a data set. The variance is the mean squared difference between each data point and the centre of the distribution measured by the mean.
In this video, you will learn about Bias and Variance.
The topics covered are given below:
○ Introduction - 0:00
○ What is Bias - 0:32
○ Example - 1:49
○ Why does Bias Occur - 2:16
○ Why does Bias matter - 3:14
○ Types of Bias - 4:00
○ What is Variance - 5:11
○ Formula of Variance - 5:56
○ Example - 6:45
○ Formula of Sample Variance - 7:51
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