Conclusion
In this module, we've seen statistics in action. We were able to use data from a sample to make a statement or conclusion about the corresponding population of interest through inference using either confidence intervals or hypothesis testing.
In doing so, we've been able to provide evidence around:
- the population median price per night for a Chicago Airbnb
- the population mean length of time that an Airbnb host has been on Airbnb
We also recognized some of the limitations of these procedures, with some coming from the data, some from the analysis processes, and some based on the interpretations. We are using our sample to help us make logical decisions and conclusions, but we may still make mistakes. We also were able to marry the simulation-based processes we've developed over the last 13 modules with processes to help us better understand the world using the data that are available.
This also wraps up our Data Science Exploration material! We hope that you can make better sense of the world by exploring it using data!