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hello everyone my name is Brian Lapidus and Im the director of the FPA practice here at AFP the Association for financial professionals we have released our guide statistics you need to know which is based on the premise that a data driven world is interpreted and understood through the language of Statistics and that currently the software thats out on the market more than ever is putting statistical and data tools at your fingertips we in finance and as business professionals need to know what tools to use when to use them and how to use them appropriately in this video Im going to talk about three very simple statistical ideas that you can put into practice today in order to help understand this language the first idea is that of fitting a model this is where you create a model or a formula or a system to describe a set of data why do you do this because a model that can explain the data set this historical data set can be useful in predicting what will happen in the future to a
