Levels of measurement - nominal, Ordinal, interval, and ratio levels of measurement.
Discrete - Variables can Assume only certain values, and there are “gaps” between the values
Inferential or Inductive - This facet of Statistics deals with estimating a population parameter based on a sample statistic.
Statistic- A characteristic Of a sample
Parameter - A characteristic Of a piopulation
Frequency distribution- A grouping of Data into classes showing the number of observations in each of the mutually Exclusive and collectively exhaustive classes.
Pie chart- A circular chart That shows the proportion or percentage that each class represents of the total Number of frequencies.
Frequency table- A grouping of Qualitative data into mutually exclusive classes showing the number of Observations in each class.
Mutually exclusive; Exhaustive- A property of a set of categories such that an individual, Object, or measurement is included in only one category. The categories cover every possible state.
Cumulative frequency Distributions- Each class is summed with the class prior in a frequency Distribution
Empirical Rule-For a Symmetrical, bell-shaped frequency distribution, approximately 68% of the Observations lie within ±1 standard deviation of the mean; about 95% of the Observations lie within ±2 standard deviations of the mean; and practically all (99.7%) lie within ±3 standard deviations of the mean.
Mean- The Average. Sum all observations and divide By the number of observations
Dispersion- refers to the Spread of the data around the mean
Standard Deviation- A measure of Dispersion. It is the square root of the Variance
Variance- The mean of the Squared deviAnce from the mean of all observations. It is a measure of dispersion
Box plot: A graphic Display that shows the general shape of a variable's distribution. It is based On five descriptive statistics: the maximum and minimum values, the first and Third quartiles, and the median.
3rd Quartile- The 75th percentile used in a box plot
Skewness- A measure of the Asymmetry of a distribution of Data
Contingency table:A table used to Classify observations according to two characteristics. If characteristics, Such as gender and highest degree earned for a sample of stockbrokers, are Cross classified into a table,