Given the person’s attribute: Age, Sex, BMI, Smoker etc. we have to predict insurance cost.
For this article the prerequisite is: Andrew Ng’s linear regression lecture.
clickhere to check out the course.
Let’s say you have dataset in which one column has numeric data type and there are 1000 data points (rows) in that column, It is hard and time consuming to go through each and every data point, hence to overcome this problem we use descriptive statistics which describes our data and makes our task much more simpler. We also use visualizations such as histogram and boxplot to understand the distribution of the data.
Rather than understanding 1000 rows, summary statistics only has 1 number which can give the idea of whole data.
There are basically 2 types of summarizing techniques.