# Statistics Vocabulary

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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
 Author: Anonymous ID: 105490 Card Set: Statistics Vocabulary Updated: 2011-09-30 23:40:35 Tags: Stats Stat Statistics Folders: Description: Chapter 1: Introduction Show Answers: