Data Summary Flashcards
What is Quantitative data?
Data measuring some quantity resulting in a numerical value
What is Qualitative data?
Data measuring the quality of something resulting in a value that doesn’t have a numerical value (colour, religion, seasons)
What is discrete quantitive data?
Data with distinct values and possible values take only a distinct series of numbers (number of traffic accidents, number of children born to a women)
What is continuous quantitive data?
Data with a value that can be measured evermore precisely (heights, speed)
What is ordinal qualitative data?
Non-numerical value but values that have some natural order (poor, fair, good, great)
What is nominal qualitative data?
Unordered, distinct by name only (red, blue, green)
What is a frequency distribution?
Used for discrete variables, with a limited number of distinct values. Formed by counting the number of frequency of each distinct value.
Meaning: mode
Most frequently recorded value
What re some measures of centre?
Mean and median
What are some measures of spread?
Range, interquartile range, sample variance, standard deviation
Why do we not usually know the population mean parameter?
Would have to sample the whole population which takes too long/ is too expensive
What would you use if you didn’t know the true value of the parameter?
Obtain the estimate (mu hat), the sample mean.
How would you find the sample mean (mu hat)?
Mu hat = the average of the set of values being used divided by the sample size
How would you find an outcome?
Outcome = (mean) + error
How would you find the destiny at some i?
Destiny at some time/location i is equal to the mean destiny plus some error