ABSTRACT
This introduction presents an overview of the key concepts discussed in the subsequent chapters of this book. The book concentrates on fitting the 'Best Fit' Line or Curve through data and creating estimates through interpolation or extrapolation and expressing the confidence in those estimates based on the degree of scatter around the 'Best Fit' Line or Curve. It discusses the probability distributions and the concept of Correlation required for Monte Carlo Simulation and Queueing Theory. The book explores the differences between those statistics that are collectively referred to as 'Measures of Central Tendency' and why they are referred to as such. It also explores several probability distributions. The book also discusses the use of Hypothesis Testing to support an informed decision when making these judgement calls. It explores several statistical tests that allow us to 'Out the outliers'. The book reviews the key statistical concepts and techniques that underpin data analysis used for estimating and forecasting.
