Chapter I - Statistics Flashcards
To organize and memorize the material presented in chapter 1.
Statistics
science of collecting, analyzing, presenting, and inter- preting data.
Data
facts and figures collected, analyzed, and summarized for presentation and in- terpretation
Elements
the entities on which data are collected
Variable
characteristic of interest for the elements
Categorical Data
data grouped by specific categories
Quantitative Data
data that use numeric values to indicate how much or how many
Cross Sectional Data
data collected at the same or approxi- mately the same point in time
Time Series Data
data collected over several time periods
Descriptive Statistics
summarize large groups of data using graphical and/or numerical techniques
Inferential
use smaller sets of data to learn information about larger sets of data
Population
entire set of data we are interested in studying
Sample
a subset of the population we have collected information from
Experimental Unit
the object we measure (a student, a stock)
Variable
a characteristic or property of an experimental unit that can vary from one to the next
Quantitative
data that is numerical by nature
