Module 2 Flashcards
Statistics
The science of collecting, organizing, presenting, analyzing, and interpreting data to assist in making more effective decisions
Descriptive Statistics
Methods of organizing, summarizing, and presenting data in an informative way
Population
The entire set of individuals or objects of interest or the measurements obtained from all individuals or objects of interest
Sample
A portion, a part, of the population of interest
Inferential Statistics
The methods used to estimate a property of a population based on a sample
Nominal Level of Measurement
Data recorded at this level of measurement are represented as labels or names. They have no order. They can only be classified and counted.
Ordinal Level of Measurement
Data recorded at this level of measurement is based on a relative ranking or rating of items based on a defined attribute or qualitative variable. Variables based on this level of measurement are only ranked and counted.
Interval Level of Measurement
For data recorded at this level of measurement, the interval or the distance between values is meaningful. This level of measurement is based on scale with a known unit of measurement.
Ratio Level of Measurement
Data recorded at this level of measurement are based on a scale with a known unit of measurement and a meaningful interpretation of zero on the scale
Nominal
Data is only classified (jersey numbers, make of a car)
Ordinal
Data is ranked (ranking in class, team standings in conference)
Interval
Meaningful difference between values (temperature, dress size)
Ratio
Meaningful 0 point and ratio between values (profit, fuel efficiency, distance to class)
Parameter
A characteristic of a population
Statistic
A characteristic of a sample
Median
The midpoint of the values after they have been ordered from the minimum to the maximum values
Mode
The value of the observation that appears most frequently
Range equation
Maximum value – Minimum Value
Variance
The arithmetic mean of the squared deviations from the mean
Chebyshev’s Theorem
For any set of observations (sample or population), the proportion of the values that lie within k standard deviation of the mean is at least 1 -1/k^2, where k is any value greater than 1
Empirical Rule
For a symmetrical, bell-shaped frequency distribution, approximately 68% of the observations will lie within plus and minus one standard deviation of the mean, about 95% of the observations will lie within plus and minus two of the standard deviation of the mean, and practically all (99.7%) will lie within plus and minus three of the standard deviation of the mean
Dot Plot
This summarizes the distribution of one variable by stacking dots at points on a number line that shows the values of the variable. This shows all values.
Quartiles
Values of an ordered (minimum to maximum) data set that divide the data into four intervals
Deciles
Values of an ordered (minimum to maximum) data set that the data is divided into 10 equal parts