What is statistics?
The science of collecting, organizing. summarizing, and analyzing information to draw conclusions and answer questions.
What are the Steps in Statistics
ICOSA
1. Identify Objective
2. Collect data needed
3. Organize data
4. Summarize data
5. Analyze data
What is Descriptive statistics?
Organizing and summarizing data.
Summarizes sample only
What is inferential statistics?
Used to analyze the information/data for inference and forecasting
Summarizes population with the sample
What is Universe?
set of all entities under study
What is Population?
The set of all possible values of the variable
What is a variable?
Characteristic of the Population
What is the sample?
subset of the population
What is an Individual?
a member of the population
What is a statistic?
A numerical summary of sample
What is a parameter?
numerical summary of the population
What are the levels of measurements?
Nominal (qualitative)
Ordinal (Ranking, no intervals)
Interval (specific distance between each interval)
Ratio (has true zero)
