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MMW > LESSON 4.1 Statistics and Data Management Basic Concepts > Flashcards

LESSON 4.1 Statistics and Data Management Basic Concepts Flashcards

1
Q

What is the definition of Statistics?

A

Statistics is the study of the collection, organization, analysis, interpretation, and presentation of data.

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2
Q

What are the two main branches of Statistics?

A

Descriptive Statistics and Inferential Statistics.

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3
Q

What does Descriptive Statistics deal with?

A

The description and summarization of data, including techniques for collection, presentation, organization, and analysis.

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4
Q

What does Inferential Statistics deal with?

A

Drawing conclusions from data, generalizing from samples to populations, performing estimations, hypothesis tests, determining relationships among variables, and making predictions.

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5
Q

What is the purpose of condensation in Statistics?

A

To reduce or summarize a large amount of data into a few observations for better understanding.

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6
Q

What role does comparison play in Statistics?

A

It helps compare data collected from different sources using tools like grand totals, measures of central tendency, measures of dispersion, graphs, and diagrams.

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7
Q

What is forecasting in Statistics?

A

Predicting or estimating future outcomes based on past data.

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8
Q

What statistical tools are used for forecasting?

A

Time series analysis and regression analysis.

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9
Q

What is the goal of estimation in Statistics?

A

To draw inferences about a population from the analysis of a sample.

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10
Q

What is a statistical hypothesis?

A

A statement about a probability distribution that characterizes a population based on sample data.

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11
Q

What are some examples of hypothesis testing in Statistics?

A

Testing if grades improved due to motivation or if a new teaching method is effective for a specific topic.

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12
Q

What is the role of classification and tabulation in Statistics?

A

To organize data for easier comparison and analysis.

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13
Q

What are some key features used to describe a data distribution?

A

Measures of central tendency, measures of dispersion, and visual data presentations like graphs and charts.

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14
Q

What is the importance of statistical tools in hypothesis testing?

A

They help validate statements about populations based on sample observations.

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15
Q

Why is Statistics considered a distinct mathematical science?

A

Because of its empirical roots and application-focused approach.

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16
Q

How does Statistics contribute to decision-making?

A

By facilitating wise decision-making in the face of uncertainty through data collection, presentation, and analysis.

17
Q

What are some functions of Statistics in business?

A

Production forecasting, sales prediction, and profit estimation.

18
Q

What are the procedures involved in collecting data?

A

Survey design, sampling, observation, and experimentation.

19
Q

What are the four methods of data measurement?

A

Nominal, ordinal, interval, and ratio.

20
Q

What are some ways to present data?

A

Tables, graphs, charts, and diagrams.

21
Q

What is the role of statistics in industries?

A

To maintain quality levels using tools like control charts and inspection plans, which often involve sampling.

22
Q

Why is statistics important in commerce?

A

It helps estimate demand and manage stock levels to avoid understocking or overstocking.

23
Q

How does statistics contribute to economics?

A

By measuring numerical changes in complex groups and aiding in economic theory and practice.

24
Q

What is the use of statistics in education?

A

For research, policy formulation, and planning new courses or evaluating facilities.

25
Q

Why is statistics essential in planning?

A

It supports decision-making with data on production, consumption, demand, supply, and other factors.

26
Q

How is statistics applied in medicine?

A

To test the efficiency of drugs or compare medicines using tools like the t-test.

27
Q

What modern developments have enhanced the use of statistics?

A

Advances in computer and information technology, with software for experiments, forecasting, and simulations.

28
Q

Why is statistics not suitable for qualitative phenomena?

A

Because it deals with numerical data, and qualitative attributes like honesty or beauty cannot be measured numerically.

29
Q

Why does statistics not study individuals?

A

It focuses on aggregates of data, as individual items alone are not statistically significant.

30
Q

Are statistical laws exact?

A

No, they are approximations and not universally true.

31
Q

What is a risk of using statistical methods without expertise?

A

Misuse by inexperienced individuals can lead to incorrect conclusions.

32
Q

Why is statistics not a complete solution to problems?

A

Because it needs to be supplemented with cultural, philosophical, or other contextual evidence.

MMW (13 decks)

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