L1 Chance & Data - Statistics Flashcards
Probability
A measure of the likelihood that an event will occur
Number of favourable outcomes/total number of outcomes
Mean
box and whisker
All data values added together divided by the number of items added together
Median
box and whisker
The middle value in the data set
remember median is the BEST measure of average because it doesn’t get affected by outliers at the top
Mode
box and whisker
The number that is the most present
Range
box and whisker
The difference between the max and minimum
Range = Max-Min
Scatter Plot
Look for the trend line and outliers
Advantages & Disadvantages of Scatter Plot
Advantages
- A scatter plot is good for comparing two different variables (i.e. height and weight), and seeing if there is a relationship between them.
- Show the relationship between two variables
- patterns are easy to observe
Disadvantages
- Does not show a relationship for more than two variables
- unable to give the exact extent of correlation
Bar Graph
Bar charts are usually used to show how many individuals in a sample fall into each category of some variable.
Advantages & Disadvantages of Bar graph
Advantages
- easy to understand
- summarise a large amount of data in a visual, easily interpretable form
Disadvantages
- bar charts often fail to mark key assumptions, patterns, and causes
- not a lot of data can be added
Box & whisker plot
Look for median, inter-quartile, range, and spread
Advantages & Disadvantages of Box & Whisker plot
Advantages - A box and whisker plot is good for seeing the overall features of data (i.e. the median and the quartiles) very effective and easy to read - - Disadvantages - - -
Time series
Look for trends over time
Advantages & Disadvantages of Time Series
Advantages
- A time-series graph is good for seeing how data changes over time.
Dot Plot
A dot plot is a method of visualization representing expectations for some data series. Remember to look for the median, spread, and outliers
Advantages & Disadvantages of Dot Plot
Advantages
- A dot plot is good for analyzing individual data points, as well as seeing how data is distributed.
- They clearly display cluster/gaps of data and outliers
Disadvantages
- It can be time-consuming when it comes to a large amount of data
Pie Chart
Pie charts can be used to show percentages of a whole, and represent percentages at a set point in time