STATS

Question 1

Variable

Answer 1

A characteristic that varies between subjects or objects (e.g., age, gender, income).

Question 2

Data

Answer 2

Plural term representing the collection of all observations of variables.

Question 3

Dataset

Answer 3

A collection of data, typically organized for research or analysis.

Question 4

Categorical (Qualitative

Answer 4

Described in words, e.g., car colors.

Question 5

Numerical (Quantitative)

Answer 5

Can be counted or measured, e.g., income.

Question 6

Discrete

Answer 6

Countable variables, like the number of customers.

Question 7

Continuous

Answer 7

Uncountable variables, like time or weight.

Question 8

Time Series

Answer 8

Data measured over time (e.g., stock prices over months).

Question 9

Frequency

Answer 9

Refers to the count, percent, or frequency of data values.

Question 10

Position

Answer 10

Frequency

Question 11

Boxplots

Answer 11

are useful visual tools that depict the median, quartiles, and outliers of data.

Question 12

Sampling

Answer 12

critical to ensure that inferences drawn from the sample reflect the entire population. Sampling methods fall into two categories:

Question 13

Probability Sampling

Answer 13

preferred for accurate population estimation

Question 14

Simple Random Sampling

Answer 14

Each member of the population has an equal chance of being selected.

Question 15

Systematic Sampling

Answer 15

Selects every nth individual in a list.

Question 16

Cluster Sampling:

Answer 16

The population is divided into clusters, and a random sample of clusters is selected.

Question 17

Stratified Sampling

Answer 17

The population is divided into strata, and samples are taken from each stratum.

Question 18

Non-Probability Sampling

Answer 18

often biased and not ideal for statistical inferences

Question 19

Convenience Sampling

Answer 19

Selecting individuals based on convenience.

Question 20

Volunteer Sampling

Answer 20

Individuals volunteer to participate.

Question 21

Snowball Sampling

Answer 21

Existing participants recruit future subjects.

Question 22

Questionnaire

Answer 22

A primary method for gathering data from samples. Care must be taken to ensure validity (accuracy) and reliability (consistency) of the data.

Question 23

Hypothesis Testing

Answer 23

Used to test claims or hypotheses about a population parameter based on sample data.

Question 24

Correlation Analysis

Answer 24

Measures the strength and direction of relationships between two variables.

Question 25

Regression Analysis

Answer 25

Determines how one variable influences another (e.g., predicting sales based on advertising spend).

Question 26

Classical Probability

Answer 26

lassical probability assumes that all outcomes of an event have an equal likelihood of occurring. This method is used when the total number of possible outcomes is known, and each outcome is equally likely.

Question 27

Empirical Probability

Answer 27

Empirical probability calculates the probability of an event based on actual data or experiments, rather than theoretical predictions. It is used when the total number of possible outcomes is unknown, and probabilities are determined by observation.