Stats Unit 1 Vocab

Statstics

Numerical facts (averagaes, medians, percentages, and maximums)

Data

The facts and figures collected, analyzed, and summarized

Data Set

All data collected in a study

Elements

The entities on which data is collected

Variable

A characteristic of interest for the elements

Observation

The set of measurements obtained for a particular element

Nominal Scale

The data are labels/names used to identify an attribute of the element

Ordinal Scale

The data have the props of the nominal data, and the order or the rank of the data MATTERS

Interval Scale

The data have the properties of ordinal data and the interval btwn observations is expressed in terms of fixed units of measure (ALWAYS numerical)

Ratio Scale

The data have the properties of interval data and the ratio scale of measurement

Categorical Data

• counting the number of observations in e/a category 

• computing the proportion of the observations in e/a category

Quantitative Data

• “how much or how many”

• ordinary arithmetic operations are meaningful

Time Series Data

• collected over several periods

• identifies trends over time

Cross Sectional Data

• collected at the same or approx. the same point in time 

• identifies one specific trend

Population

The set of all elements of interest in a particular study

Sample

A subset of the population

Census

Conducting surveys to collet data for the entire population

Sample Survey

Conducting surveys to collect data for a sample

Statistical Inference

The process through which we use data from a sample to make estimates/test hypothesis about characteristics of a population

Analytics

Transferring data into insights for making decisons