11. Probability and Statistics in Data Science using Python

“We are more fascinated today by statistical predictions of what the country will be thinking in a few weeks’ time than by visionary predictions of what the country will look like in 10 or 20 years from now.” ― Peter Thiel, Zero to One: Notes on Startups, or How to Build the

“The combination of Bayes and Markov Chain Monte Carlo has been called “arguably the most powerful mechanism ever created for processing data and knowledge.” Almost instantaneously MCMC and Gibbs sampling changed statisticians’ entire method of attacking problems. In the words of Thomas Kuhn, it was a paradigm shift. MCMC solved real problems, used computer algorithms instead of theorems, and led statisticians and scientists into a worked where “exact” meant “simulated” and repetitive computer operations replaced mathematical equations. It was a quantum leap in statistics.” ― Sharon Bertsch McGrayne, The Theory That Would Not Die: How Bayes’ Rule Cracked the Enigma Code, Hunted Down Russian Submarines, and Emerged Triumphant from Two Centuries of Controversy