Statistics

• The mean is the average value.
• Statistics is the science of collecting, analyzing, presenting,

  and interpreting data, as well as of making

  decisions based on such analyses.
• Theoretical Mathematical Statistics deals with the development, derivation and

  proof of statistical theorems, formulas, rules,

  and laws
• Applied Statistics involves the applications

  of these theorems, formulas, rules, and laws

  to solve real world problems
• Descriptive Statistics consists of

  methods for organizing, displaying, and

  describing data by using tables, graphs, and

  summary measures.
• Inferential Statistics consists of methods

  that use sample results to help make

  decisions or predictions about a population.
• Data – raw numbers that we capture

  according to some agreed standards
• Information – processed; a collection of

  data points that we can use to understand

  something about the thing being measured
• Population consists of a complete set of individuals,

  objects, places, items, events, or measurement of

  interest whose characteristics are being studied.
• Sample is a portion, or part of the population selected for

  study drawn by some appropriate methods from the

  population
• Parameter is a value or measurement obtained from a population
• Statistic is value or measurement from a sample
• Variable is an observable characteristic or attribute associated with the population or sample being studied which makes one different from the other.
• Quantitative Variable - variables that are classified according to

  numerical value.
• Discrete – it can assume values only at

  specific points on a scale of values with

  gaps between them.
• Continuous Variable – a variable that can assume any numerical value over a certain continuous interval or it is a result of measurement.
• Qualitative Variable - can be classified into two or more non-numeric categories according to its characteristics or attributes.