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Chapter 1 - What is Statistics? - Coggle Diagram
Chapter 1 - What is Statistics?
Why statistics?
Provides you with the necessary tools and conceptual foundations in quantitative reasoning to extract information intelligently from this sea of data
Computers allow us to collect and store data in quantities that previously would not even have been dreamed of
Provides the user with some of the most useful techniques for evaluating ideas and testing theories
What is statistics
Science data processing
Used to obtain information from data
The art of extracting meaning from seemingly incomprehensible data
Statistics is concerned with
Analyzing data to make decisions based on the conclusions that are drawn
Data -> Statistics -> Information
Collecting, presenting, and summarizing data
Sample
A set of data drawn from the population for analysis
Statistic
Numerical measure that describes the characteristics of a sample
Parameter
Numerical measure that describes the characteristic of a population
Population
Group of all items of interests
What is this data?
Might be costs, sales volumes, measurements, ratings, distances, prices, percentages, counts, times, or market shares
Descriptive statistics
Another form of descriptive statistics uses numerical techniques to summarize data
Mean and median describe the location of the data
One form of descriptive statistics uses graphical techniques to present data in ways that make it easy for the reader to extract useful information
Range, variance, and standard deviation measure the variability of the data
Methods of organizing, summarizing, and presenting data in a convenient and informative way
Inferential statistics
We use statistics to make inferences about parameters
Therefore, we can make an estimate, prediction, or decision about a population based on sample data
A grouping of methods used to draw conclusions or inferences about characteristics of populations based on sample data