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Statistics

TermDefinition
population parameter a numerical measurement describing some characteristic of a population
sample statistic a numerical measurement describing some characteristic of a sample
All students currently enrolled at K-state population
50 randomly selected K-State students sample
Statistics the science that deals with the collection, preparation, analysis, presentation, and interpretation of data : extracting useful information from a data set
Population the entire collection of individuals about which information is sought
Sample a subset of population, containing the individuals that are actually observed
Data compilations of facts, figures, or other contents, both numerical and nonumerical
Types of data cross-sectional data, time series data, panel data
cross-sectional data collected by recording a characteristic of many subjects at the same point in time without regard to differences in time
time series data collected over several times periods focusing on a single subject ( hourly, daily, weekly, monthly, or annual observations ). Ex. quarterly
cross sectional many subjects; one time period
time series one subject; many times periods
panel data many subjects, many times periods
Big data massive volume of both structured and unstructured data
Three features of big data volume, velocity, variety
Variable
Categorical variable ( qualitative variable ): values of the variable represent categories
Numerical variable ( or quantitative variable ): values of the variable represent meaningful numbers
Discrete variable takes countable number of values
Continuous variable Values of a variable fall within a continuous range of numbers
population parameter a numerical measurement describing some characteristic of a population
sample statistic a numerical measurement describing some characteristic of a sample
All students currently enrolled at K-state population
50 randomly selected K-State students sample
Statistics the science that deals with the collection, preparation, analysis, presentation, and interpretation of data : extracting useful information from a data set
Population the entire collection of individuals about which information is sought
Sample a subset of population, containing the individuals that are actually observed
Data compilations of facts, figures, or other contents, both numerical and nonumerical
Types of data cross-sectional data, time series data, panel data
cross-sectional data collected by recording a characteristic of many subjects at the same point in time without regard to differences in time
time series data collected over several times periods focusing on a single subject ( hourly, daily, weekly, monthly, or annual observations ). Ex. quarterly
cross sectional many subjects; one time period
time series one subject; many times periods
panel data many subjects, many times periods
Big data massive volume of both structured and unstructured data
Three features of big data volume, velocity, variety
Variable
Categorical variable ( qualitative variable ): values of the variable represent categories
Numerical variable ( or quantitative variable ): values of the variable represent meaningful numbers
Discrete variable takes countable number of values
Continuous variable Values of a variable fall within a continuous range of numbers
Created by: user-2023330
 

 



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