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# 01:960:285 Study Guide - Fall 2018, Comprehensive Midterm Notes - Standard Deviation, Normal Distribution, Random VariablePremium

by OC2554842

School

Rutgers UniversityDepartment

Statistics and BiostatisticCourse Code

01:960:285Professor

Zhanyun ZhaoStudy Guide

MidtermThis

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01:960:285

Introductory Statistics for Business

Midterm

Fall 2018

Prof. Zhanyun Zhao

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STAT 285-Lecture 1- Basic Statistics Terms

● Population-set of experimental units that we study

● Experimental unit- object upon which we collect data

● Sample- subset of the population and only the population

● Variable-a characteristic of an individual experimental unit

● Inference-estimate or prediction about the total population based off of a sample of the

population

● Reliability- Statement about the degree of uncertainty associated with a statistical

inference

Descriptive Statistics:information about the sample

● 4 elements of descriptive statistical problems:

● D1- the population/sample of interest

● D2- one or more variables to be investigated

● D3-Tables, graphs, or numerical summary tools-How the information is presented

● D4- Identifications of patterns in data

Inferential Statistics: information predicted about the wider population based off the

sample

● 5 elements of inferential statistical problems

● I1- population of interest

● I2- one or more variables to be investigated

● I3- sample of population units

● I4- inference about the population based on sample information

● I5- measure of reliability for the inference

Examples of statistical terms in practice

● Experimental unit:person

● Population: cola consumers (I1)

● Sample: 1000 consumers (D1,I3)

● Variable: 1= Pepsi, 0 = Coca-cola (D2,I2)

● Results from sample: 56% chose Pepsi (D4)

● Inference:estimated that 56% of all cola consumers prefer Pepsi(I4)

● Reliability: 95% confidence level of the estimate is [53-59%] (I5) - as long as you have

not observed the entire population, you cannot say anything based of the sample with

100% confidence

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● Descriptive statistics: 56% of people from the 1000 sampled cola consumers preferred

Pepsi

● Inferential statistics: it is estimated 56% of all cola consumers would prefer Pepsi.

Types of statistical tests:

● Blind test- participant does not know details of test

● Double blind test- participant and test instructor do not know test details

General Notes:

● Statistics is applicable to Biology, Education, psychology, Business, Economics,

marketing, genetics, medicine, public health, etc, etc

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