1.7: Conclusion
- Page ID
- 56842
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(Source: Wikipedia)
And that brings us to the end of this introductory chapter. In this chapter, you were introduced to the incredible Kingdom of Ruritania. Ruritania offers us a rich source of examples, which will be exploited throughout the text.
This chapter also offered several examples that foreshadow what you will learn in this course. While you may not be able to do — or understand the underlying theory for — any of them at this point, you will by the end of the course.
So, take a deep breath and turn the page to the book's first part: Ordinary Least Squares (OLS). In this part of the book, we start by asking what we mean by "summarizing the relationship with a line of best fit." From that point, we leverage that definition to inform our mathematics, thus allowing us to create formulas for estimating the population parameters.
After that chapter, we use the mathematics and elementary probability theory to create test statistics and confidence intervals for testing hypotheses of interest.
And after that... the sky is the limit! It is a great journey, and King Rudolph II thanks you for starting it.