Statistics answers questions using data or information about a situation and helps in decision-making in an uncertain environment.
Population and Sample
The Population is a complete set of all the items that interest an investigator, whereas a Sample is an observed subset of the population.
Parameter and Statistic
A Parameter is a characteristic of the population, whereas a Statistic is a specific characteristic of a sample.
Descriptive and Inferential Statistics
Descriptive statistics use graphical and numerical procedures to summarize data and to transform data into information.
Inferential statistics provide a base for forecasting predictions and estimates for transforming information into knowledge.
Types of Data
Categorical Data are responses that belong to groups or categories. It represents characteristics such as a person's gender, marital status, hometown, or the types of movies they like.
Cases and Variables
A Case is an experimental unit. These are the individuals from which data are collected.
A Variable is a characteristic that is measured and can take on different values. In other words, something that varies between cases.
Cross-sectional data and Time-Series Data
Time series is basically data measured across different points in time and Cross-sectional Data are the result of a data collection, carried out at a single point in time on a statistical unit.
Log in to save your progress and obtain a certificate in Alison’s free Diploma in the Foundations of Probability and Statistics online course
Sign up to save your progress and obtain a certificate in Alison’s free Diploma in the Foundations of Probability and Statistics online course
Please enter you email address and we will mail you a link to reset your password.