BSTAT 3321 - Exam 1 correctly answered
to pass
Data
Are compilations of facts, figures, or other contents; Can be generated from multiple sources
- Both numerical & non-numerical
- Customers/ Businesses use it to help make decisions
Statistics
Is the science that deals with the collection, preparation, analysis, interoperation, and
presentation of data
- Find the right data & prepare it for the analysis
Descriptive Statistics
Refers to the summary of important aspects of a data set
Inferential Statistics
The practice of extracting useful information from a sample to draw conclusions about a
population
,Two types of Inferential Statistics
- Population Data
- Sample Data
These are what kind of statistics?
Population Data
A Larger set of data; all members or items of interest
- the entire data set
Sample Data
Smaller set of data; A subset of a population of interest
Cross-Sectional Data
Refers to data collected by recording a characteristic of many subjects at the same point in time,
or without regard to difference in time
Time-Series Data
Refers to data collected over several time periods focusing on certain groups of people, specific
events, or objects.
, - Hourly, Daily, Weekly, Monthly, Quarterly, or Annually observations
Categorical Variable
Labels or names to identify the distinguishing characteristics of each observation; Typically
expressed in words.
- Qualitative
- Not numbers; Cannot count them
Numerical Variables
Quantitative; meaningful values
- Can be discrete
- Can be Continuous
Discrete Values
Only occur in whole numbers; integers.
- From negative infinity to infinity
- No fractions, Decimals
Ex.
to pass
Data
Are compilations of facts, figures, or other contents; Can be generated from multiple sources
- Both numerical & non-numerical
- Customers/ Businesses use it to help make decisions
Statistics
Is the science that deals with the collection, preparation, analysis, interoperation, and
presentation of data
- Find the right data & prepare it for the analysis
Descriptive Statistics
Refers to the summary of important aspects of a data set
Inferential Statistics
The practice of extracting useful information from a sample to draw conclusions about a
population
,Two types of Inferential Statistics
- Population Data
- Sample Data
These are what kind of statistics?
Population Data
A Larger set of data; all members or items of interest
- the entire data set
Sample Data
Smaller set of data; A subset of a population of interest
Cross-Sectional Data
Refers to data collected by recording a characteristic of many subjects at the same point in time,
or without regard to difference in time
Time-Series Data
Refers to data collected over several time periods focusing on certain groups of people, specific
events, or objects.
, - Hourly, Daily, Weekly, Monthly, Quarterly, or Annually observations
Categorical Variable
Labels or names to identify the distinguishing characteristics of each observation; Typically
expressed in words.
- Qualitative
- Not numbers; Cannot count them
Numerical Variables
Quantitative; meaningful values
- Can be discrete
- Can be Continuous
Discrete Values
Only occur in whole numbers; integers.
- From negative infinity to infinity
- No fractions, Decimals
Ex.
