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### BUSSTAT 208 Statistics Terminology

Course: BUSSTAT 208, Fall 2011
School: Boise State
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Word Count: 373

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to 1 Statistics how collect, organize, analyze, and interpret data 2 Goal drawing conclusions from small group of elements (the sample) about a larger group of elements (thepopulation) 3 Mean (Average) Sum of All the Entries Divided by the Number of Entries largely influenced by extreme values 4 Median Central Value of an Ordered Data - not affected by few extremely large (small) values 5 To find the median...

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to 1 Statistics how collect, organize, analyze, and interpret data 2 Goal drawing conclusions from small group of elements (the sample) about a larger group of elements (thepopulation) 3 Mean (Average) Sum of All the Entries Divided by the Number of Entries largely influenced by extreme values 4 Median Central Value of an Ordered Data - not affected by few extremely large (small) values 5 To find the median rank order data in ascending order n is odd: median is the central value n is even: median is the average of two central values 6 Mode Value With Highest Frequency (most often value in the data set) 7 Sample Range Largest value Smallest value 8 Sample Variance s2 average squared deviation from the mean 9 Sample Standard Deviation s most often used - characterizes average difference of individual values in the data set from its mean. 10 Sample Correlation Coefficient r measure of strength of a linear association between two variables. 11 Probability number between 0 and 1 to indicate the likelihood of an event 12 An experiment any process that produces an observation or outcome 13 A sample space all outcomes possible of an experiment 14 An event any set of outcomes 15 Probability of an event A: P(A) chance that the outcome of the experiment is contained in A. 16 independent events the probability of event B does not depend on occurrence of event A 17 Dependent events the probability of drawing the ace as the second card depends on drawing the first card P(B given A) 18 event A and B all outcomes that are in A and B at the same time 19 event A or B when both events occur, or either one of them: A or B= {(h,h),(h,t), (t,t)} 20 complement of an event (not A) all outcomes that are not in A 21 A random variable takes on numerical values that are associated with a probability, defined by a probability distribution 22 Discrete random variables (possible to list all values), number of defect radios in a lot, daily car buys in a dealership, 23 Continuous all values in some interval are possible 24 Confidence Interval Estimation we know data from a sample, our task is to evaluate population parameter 25 Hypothesis testing we know what the population parameter should be null hypothesis and we have sample data
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