Untitled Deck Flashcards
Central Limit Theorem
“The idea that the sampling distribution of the mean approaches a normal distribution as the sample size increases”
Cluster random sample
“A probability sampling method that divides a population into clusters
Convenience sample
“A non-probability sampling method that involves choosing members of a population that are easy to contact or reach”
Descriptive statistics
“A type of statistics that summarizes the main features of a dataset”
Inferential statistics
“A type of statistics that uses sample data to draw conclusions about a larger population”
Non-probability sampling
“A sampling method that is based on convenience or the personal preferences of the researcher
Nonresponse bias
“Refers to when certain groups of people are less likely to provide responses”
Point estimate
“A calculation that uses a single value to estimate a population parameter”
Population
“Every possible element that someone is interested in measuring”
Population proportion
“The percentage of individuals or elements in a population that share a certain characteristic”
Probability sampling
“A sampling method that uses random selection to generate a sample”
Purposive sample
“A non-probability sampling method that involves researchers selecting participants based on the purpose of their study”
Random seed
“A starting point for generating random numbers”
Representative sample
“A sample that accurately reflects the characteristics of a population”
Sample
“A subset of a population”
Sample size
“The number of individuals or items chosen for a study or experiment”
Sampling
“The process of selecting a subset of data from a population”
Sampling bias
“Refers to when a sample is not representative of the population as a whole”
Sampling distribution
“A probability distribution of a sample statistic”
Sampling frame
“A list of all the items in a target population”
Sampling variability
“Refers to how much an estimate varies between samples”
Sampling with replacement
“Refers to when a population element can be selected more than one time”
Sampling without replacement
“Refers to when a population element can be selected only one time”
Simple random sample
“A probability sampling method in which every member of a population is selected randomly and has an equal chance of being chosen”
Snowball sample
“A method of non-probability sampling that involves researchers recruiting initial participants to be in a study and then asking them to recruit other people to participate in the study”
Standard error
“The standard deviation of a sample statistic”
Standard error of the mean
“The sample standard deviation divided by the square root of the sample size”
Stratified random sample
“A probability sampling method that divides a population into groups and randomly selects some members from each group to be in the sample”
Systematic random sample
“A probability sampling method that puts every member of a population into an ordered sequence
Target population
“The complete set of elements that someone is interested in knowing more about”
Undercoverage bias
“Refers to when some members of a population are inadequately represented in a sample”
Voluntary response sample
“A method of non-probability sampling that consists of members of a population who volunteer to participate in a study”
A/B testing
“A way to compare two versions of something to find out which version performs better”
Addition rule (for mutually exclusive events)
“The concept that if the events A and B are mutually exclusive
Bayes’ rule
“(Refer to Bayes’ theorem)”
Bayes’ theorem
“A math formula for stating that for any two events A and B
Bayesian inference
“(Refer to Bayesian statistics)”
Bayesian statistics
“A powerful method for analyzing and interpreting data in modern data analytics; Also referred to as Bayesian inference”
Binomial distribution
“A discrete distribution that models the probability of events with only two possible outcomes: success or failure”
Classical probability
“A type of probability based on formal reasoning about events with equally likely outcomes”
Complement of an event
“In statistics
Complement rule
“A concept stating that the probability that event A does not occur is one minus the probability of A”
Conditional probability
“Refers to the probability of an event occurring given that another event has already occurred”
Confidence interval
“A range of values that describes the uncertainty surrounding an estimate”
Continuous random variable
“A variable that takes all the possible values in some range of numbers”
Dependent events
“The concept that two events are dependent if one event changes the probability of the other event”
Discrete random variable
“A variable that has a countable number of possible values”
Econometrics
“A branch of economics that uses statistics to analyze economic problems”
Empirical probability
“A type of probability based on experimental or historical data”
Empirical rule
“A concept stating that the values on a normal curve are distributed in a regular pattern
False positive
“A test result that indicates something is present when it really is not”
Independent events
“The concept that two events are independent if the occurrence of one event does not change the probability of the other event”
Inferential statistics
“A type of statistics that uses sample data to draw conclusions about a larger population”
Interquartile range
“The distance between the first quartile (Q1) and the third quartile (Q3)”
Literacy rate
“The percentage of the population in a given age group that can read and write”
Mean
“The average value in a dataset”
Measure of central tendency
“A value that represents the center of a dataset”
Measure of dispersion
“A value that represents the spread of a dataset
Measure of position
“A method by which the position of a value in relation to other values in a dataset is determined”
Median
“The middle value in a dataset”
Mode
“The most frequently occurring value in a dataset”
Multiplication rule (for independent events)
“The concept that if the events A and B are independent
Mutually exclusive
“The concept that two events are mutually exclusive if they cannot occur at the same time”
Normal distribution
“A continuous probability distribution that is symmetrical on both sides of the mean and bell-shaped”
Objective probability
“A type of probability based on statistics
Parameter
“A characteristic of a population”
Percentile
“The value below which a percentage of data falls”
Poisson distribution
“A probability distribution that models the probability that a certain number of events will occur during a specific time period”
Posterior probability
“Refers to the updated probability of an event based on new data”
Prior probability
“Refers to the probability of an event before new data is collected”
Probability
“The branch of mathematics that deals with measuring and quantifying uncertainty”
Probability distribution
“A function that describes the likelihood of the possible outcomes of a random event”
Quartile
“A value that divides a dataset into four equal parts”
Random experiment
“A process whose outcome cannot be predicted with certainty”
Random variable
“A variable that represents the values for the possible outcomes of a random event”
Range
“The difference between the largest and smallest value in a dataset”
Sample space
“The set of all possible values for a random variable”
Standard deviation
“A statistic that calculates the typical distance of a data point from the mean of a dataset”
Standardization
“The process of putting different variables on the same scale”
Statistic
“A characteristic of a sample”
Statistical significance
“The claim that the results of a test or experiment are not explainable by chance alone”
Statistics
“The study of the collection
Subjective probability
“A type of probability based on personal feelings
Summary statistics
“A method that summarizes data using a single number”
Variance
“The average of the squared difference of each data point from the mean”
Z-score
“A measure of how many standard deviations below or above the population mean a data point is”
