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
