STAT 2507 Lecture 1: Week 1 class 1
29 Jan 2018
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Document Summary
Statistics is a branch of mathematics that has applications in almost every facet of our daily life. Statistical methods provide powerful tools to collect, analyze, summarize and interpret data to reach informed decisions. Descriptive statistics: is the science of summarizing and describing the important characteristics of a set of data. Inferential statistics: is the science of using information obtained from a sample to infer about the characteristics of a population of interest. A population is a set of the entire collection of units (individuals, objects). A sample is a subset of the population selected in some prescribed manner. A variable is a characteristic that changes or varies over time and/or for different individuals or objects under consideration. An experimental unit is the individual or object on which a variable is measured. A single measurement or data value is obtained when a variable is actually measured on an experimental unit.
