Question

What is the main difference between expanded and standard statistical analysis?

What do z and t represent?

Define sensitivity.

Define the philosophy behind uncertainty characterization.

Answer 1

Expended statistical analysis:-
In the context of business intelligence (BI), statistical analysis involves collecting and scrutinizing every data sample in a set of items from which samples can be drawn. ... Create a model to summarize understanding of how the data relates to the underlying population.
Two main statistical methods are used in data analysis: descriptive statistics, which summarize data from a sample using indexes such as the mean or standard deviation, and inferential statistics, which draw conclusions from data that are subject to random variation
Standard statistical Analysis :-
Measures of central tendency are a type of descriptive analysis that are used to represent the central cluster or typical scenario depicted by the data. The most commonly used measures here are median, mean, and mode.

Median is calculated by arranging the data points in ascending order and then taking the middle number. In case of two middle numbers, their average is taken
Mean represents the average of the data points. It is calculated by dividing the sum of all the data points by the number of data points,
Mode represents the most frequently occurring data point in the sample of data.
Measures of Dispersion
Measures of dispersion are a type of descriptive analysis that are used to explain how far apart the data points are spread. The most commonly used measure is standard deviation.

Standard deviation is a measure of how far data might lie from the mean. Calculating standard deviation starts by taking the difference of each data point from the mean of the data, squaring them, then adding them up. Finally, square the sum by the number of data points and then taking the square root,
If that sounds like a headache to calculate, one can use computer software to calculate the standard deviation. With big data sets, statisticians have no other choice.
Standard deviation is very useful in a normal distribution. A normal distribution is a variable that is distributed evenly about a mean. It is usually bell-shaped and symmetrical about the mean,

Sensitivity:-
In medical diagnosis, test sensitivity is the ability of a test to correctly identify those with the disease (true positive rate), whereas test specificity is the ability of the test to correctly identify those without the disease (true negative rate).
Uncertainty
It is refers to epistemic situations involving imperfect or unknown information. It applies to predictions of future events, to physical measurements that are already made, or to the unknown. Uncertainty arises in partially observable and/or stochastic environments, as well as due to ignorance, indolence, or both.