Statistics Vocabulary

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Author:
Anonymous
ID:
105490
Filename:
Statistics Vocabulary
Updated:
2011-09-30 19:40:35
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Stats Stat Statistics
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Description:
Chapter 1: Introduction
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  1. Statistics
    It is a field of study concerned with summerizing and interpreting data, then making decisions based on that data.
  2. Statistic
    A quantity calculated in a sample to estimate a value in a population.
  3. Inferential Statistics
    • The branch of statistics concerned with drawing conclusions about a population from a
    • sampling, followed bysample. This is generally done through random inferences made
    • about central tendency, or any of a number of other aspects of a distribution.
  4. Median
    • The median is a popular measure of central
    • tendency. It is the 50th percentile of a distribution. To find the median of a number
    • of values, first order them, then find the observation in the middle: the median
    • of 5, 2, 7, 9, and 4 is 5. (Note that if there is an even number of values,
    • one takes the average of the middle two: the median of 4, 6, 8, and 10 is 7.)
    • The median is often more appropriate than the mean in skewed distributions, or in situations with outliers.
  5. Percentile Formula
    • R = P/100 x (N + 1)
    • R - Rank
    • P - Desired Percentile (known)
    • N - Number on list being ranked

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