Statistical Concepts

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17 Terms

1
Statistics
The field of study and a set of methods used for collecting, organizing, analyzing, interpreting, and presenting data.
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2
Variable
Any characteristic, number, or quantity that can be counted or measured.
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3
Qualitative Variables (Categorical Variables)
Variables that represent categories, groups, or labels without numerical value.
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4
Nominal Variables
Categories with no inherent order or ranking (e.g., gender, types of fruits).
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5
Ordinal Variables
Categories with a specific order but unequal intervals between them (e.g., education level, customer satisfaction ratings).
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6
Quantitative Variables (Numerical Variables)
Variables representing measurable quantities expressed as numbers.
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7
Continuous Variables
Variables that can take an infinite number of values within a given range (e.g., height, temperature).
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8
Discrete Variables
Variables that take specific, distinct values, often whole numbers (e.g., number of children in a family, number of cars in a parking lot).
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9
Population
The entire group or set of individuals, objects, or data points of interest in a study.
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10
Parameter
A numerical value that summarizes a specific characteristic of a population.
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11
Sample
A subset of the population selected for analysis.
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12
Descriptive Statistics
Statistics that summarize a dataset using measures such as mean, median, mode, range, variance, and standard deviation.
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13
Inferential Statistics
Techniques used to draw conclusions or make predictions about a population based on a sample.
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14
Univariate Analysis
Analysis focused on a single variable, examining distribution, central tendency, and spread.
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15
Bivariate Analysis
Analysis examining relationships between two variables (e.g., correlation between education level and income).
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16
Multivariate Analysis
Analysis dealing with three or more variables to explore complex relationships.
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17
Slovin’s Formula

where:

  • n = sample size

  • N = total population

  • e = margin of error

This is used to determine sample size.

<p>where:</p><ul><li><p>n = sample size</p></li><li><p>N = total population</p></li><li><p>e = margin of error</p></li></ul><p></p><p>This is used to determine sample size.</p>
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