Statistics Exam Review

A collection of vocabulary terms and definitions relevant to statistics, particularly focusing on concepts likely to appear on the exam.

correlation coefficient

A statistical measure that describes the strength and direction of a relationship between two variables.

standard deviation

A measure of the amount of variation or dispersion in a set of values.

permutation

An arrangement of all or part of a set of objects, with regard to the order of the arrangement.

combination

A selection of items from a larger pool, where the order does not matter.

mean

The average of a set of values, calculated by summing the values and dividing by the count of values.

binomial distribution

A probability distribution that summarizes the likelihood of a value occurring in a binary scenario, with two possible outcomes.

expected value

The predicted average outcome of a random variable, calculated by summing the products of the values and their probabilities.

r-squared

A statistical measure that represents the proportion of the variance for a dependent variable that's explained by an independent variable.

probability

A measure of the likelihood that an event will occur, ranging from 0 (impossible) to 1 (certain).

random variable

A variable whose values depend on the outcomes of a random phenomenon.

explanatory variable

A variable that provides an explanation for changes in the response variable.

response variable

The variable that is being studied and which is affected by the explanatory variable.

factorial

The product of all positive integers up to a specified number, denoted as n!.

summation

The process of adding a sequence of numbers; the result is the total or sum.

alpha value

A threshold used in statistical tests to determine the significance of results.