CM1 Flashcards
A branch of mathematics that deals with scientific collection, organization, presentation, analysis, and interpretation of numerical data in order to obtain useful and meaningful information
Statistics
The process used in collection, presentation, analysis, and interpretation of data
Statistical Method
What is the nature of statistics?
- Collection of data
- Organization of data
- Analysis of data
- Interpretation of data
The process of obtaining information
Collection of data
Ascertaining manner of presenting the data into tables, graphs, or charts so that logical and statistical conclusions can be drawn from the collected measurements
Organization of data
The process of extracting from the given data relevant information from which numerical description can be formulated
Analysis of data
The task of drawing conclusion from the analyzed data
Interpretation of data
What are the 2 major areas of statistics?
- Descriptive Statistics
- Inferential Statistics
Used to report or describe the features or characteristics of data
Descriptive Statistics
Summarizes a particular numerical data sets or multiple sets, and deliver quantitative insights about that data through numerical or graphical presentation
Descriptive Statistics
Summarizes the data you have itself
Descriptive Statistics
Used to make conclusions, or inferences, based on the available data from a smaller sample population
Inferential Statistics
Using the sample data to draw conclusions about a larger population that can’t feasibly measure entirely
Inferential Statistics
Descriptive or Inferential?
Measure of Central Tendency (Mean, Median, Mode)
Descriptive Statistics
Descriptive or Inferential?
Measures of Dispersion (Variance, Standard Deviation, Skewness and Range)
Descriptive Statistics
Descriptive or Inferential?
Measures of Distribution (Quantity or Percentage of a Particular Income)
Descriptive Statistics
Descriptive or Inferential?
Hypothesis Testing
Inferential Statistics
Descriptive or Inferential?
Correlation Analysis
Inferential Statistics
Descriptive or Inferential?
Linear Regression
Inferential Statistics
Descriptive or Inferential?
Confidence Intervals
Inferential Statistics
Descriptive or Inferential?
Chi-Square Test
Inferential Statistics
Descriptive or Inferential?
The average salary per month of employees is PHP 23,200.00
Descriptive Statistics