Math203 Ch1 notes

Math203 Ch1 notes - Chapter 1 Statistics What is it the...

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Chapter 1
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Statistics What is it? “the science of conducting studies to collect, organize, summarize, analyze, and draw conclusions from data” (pg 4) statistics are used to describe or make inferences regarding a particular group or population. Why study it? Statistics are all around us. Statistics determines insurance rates. Statistics determines if you will be extended credit. Statistics determines if a drug will get FDA approval.
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Statistics Statistics are used to describe or make inferences regarding a certain population; often times by using a sample. Population : all the members of the group that you are studying Sample : a subset of or a group collected from the population Samples must represent the population When we ‘pick a good’ sample, we can use statistics to estimate the population parameters. A statistic : something factual that describes the sample Parameter : something factual that describes the population
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Types of Statistics Descriptive Statistics describe the sample/population Ex) Nine out of ten on-the-job fatalities are men Inferential Statistics inference about the sample/population Ex) Most on-the-job fatalities are men
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Variables & Data A variable is “a characteristic or attribute that can assume different values” (pg 3) Random variables occur by chance. Data are the values the variables can be. Data value / datum is each individual value. Data set is all the data
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Types of Variables Qualitative Variables “quality” or characteristic variables Typically are non-numeric. Number values are strictly for categorizing and do not have a true numeric meaning. Ex) Gender, Zip code Quantitative Variables “quantity” variables Numeric values with numeric meanings Ex) Height, number of gallons
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Types of Variables Quantitative Variable Categories Discrete
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