Week 1 Flashcards
What is Statistics?
A way of reasoning, along with a collection of tools and methods, designed to help us understand the world
What are statistics?
Quantities calculated from data
What are data?
Data are values, along with their context
Data analytics
the statistical analysis of large amounts of data in order to shift out the information needed for corporate planning
Transactional Data
Data collected for recording a company’s transactions
Business analytics
The process of using statistical analysis and modelling to drive business decisions
Data
Systematically recorded information, whether numbers or labels, together with its context
The Five W’s
Who What When Where Why
Context
Tells us WHO was measured, WHAT was measured, HOW the data were collected, WHERE the data were collected, and WHEN and WHY the study was performed
Data Table
An arrangement of data in which each row represents a case and each column represents a variable
Case
An individual about whom or which we have data
Subject
A human experimental unit. Also called a participant
Participant
A human experimental unit. Also called a subject
Experimental Unit
An individual in a study for which or for whom data values are recorded
Record
Information about an individual in a database
Variable
Holds info about the same data for many cases
Relational Database
A database that stores and retrieves information. Within the database, information is kept in data tables that can be “related” to each other
Categorical Variable
A variable that names categories
Quantitative Variable
A variable in which the numbers are values of measured quantities
Does our value tell us the quantity of something is being measured?
YES - Variable is quantitative
NO - Variable is categorial
Identifier Variable
A categorical variable that records a unique value for each case, used to name or identify it
Nominal Variable
Can be applied to data whose values are used only to name categories
Ordinal Variable
Can be applied to data for which some kind of order is available but for which measured variables are not available
