In this video, Josh Lospinoso, Lead Technologist at Red Owl Analytics, provides an illustrative example of how using inferential statistics, rather than descriptive statistics, can provide clear and precise results that would not be possible with descriptive techniques. A demo dataset of income, age, gender, and years of education is generated for the example. All of these materials are available here: sites.google.com/a/lospi.net/home/downloads/
In this video, Josh Lospinoso, Lead Technologist at Red Owl Analytics, gives a tutorial where we take some weather data from the NOAA, generate some fake household data, and perform Monte Carlo simulation of energy consumption. A subset of the population with "poor insulation" tends to have energy consumption more sensitive to temperature variation than the rest. We show how to use some basic econometrics techniques to tease out this "auditable" population from the rest.