Data slides 3 flashcards

Event

One or more outcome of an experiment

Probability Density Function (PDF)

The area under the curve represents the likelihood/probability of the variable taking on values between 'a' and 'b'

Central Limit Theorem

the sampling distribution of the mean of any independent random variable will be normal or near normal if the sample size is large enough

CLT Requirements and Benefit

A sample size equal to or greater than 30 is usually required for CLT to hold true. It allows for a good estimate of the population mean

Confidence Interval

An interval computed from sample data that is expected to capture the population parameter for a specified proportion of all samples

Random Experiment

An experiment or process for which the outcome cannot be predicted with certainty

Sample Space

The entire possible set of outcomes of a random experiment

Parameter

A measure that describes characteristics of the population

Statistic

An area of applied mathematics concerning data collection, data analysis, data interpretation, and data presentation

Descriptive Statistics

Uses data to describe the population parameters through numbers and graphics

Inferential Statistics

Uses data collected from a sample of a population to make predictions about the entire population

Frequency Distribution

Represents all values in the data and the frequencies associated with those values

What is commonly used to visualize frequency

Histograms

Central Tendency

Summary statistics that represent the center point or typical value of a dataset (where the most common values are located)

Mode

The value that occurs with the greatest frequency in a dataset

Dispersion (Variation)

Represents how much the data points deviate from the center of the dataset, or how spread out the data is

Range

The distance between the maximum and minimum values in a dataset