Statistic have been used in various subjects, such as accounting, finance, marketing, production, economics… , so I’m going to talk about some of the basic definitions of statistics.
Here is a sample data below:
|Ms. Eula Yost MD||16.35||48||1988-09-06||East Staceyberg||yes|
|Mr. Aiyana Sanford I||15.32||44||1981-01-01||Port Saraimouth||yes|
|Holly Stark||19.85||42||1978-09-20||Port Chadtown||no|
|Guiseppe Barrows||28.38||26||1970-01-07||East Edna||no|
|Miss Kaleigh Nikolaus||23.95||23||1994-07-09||South Sallyburgh||yes|
|Arjun Zboncak IV||28.61||21||1971-06-15||Port Woodrow||no|
The table above is a data set.
Data is the fundimental of statistics, data is the facts and figures collected, analyzed, and summarized for presentation and interpretation.
And the data collected in a particular study are referred to as data set.
Elements are the entities on which data are collected. The sample above should be the people that have been collected.
A characteristic of interest for the elements. The sample above should be
The set of measurements obtained for a particular element. The value of
Age … are all observations.
Scales of Measurement
There are four scales of measurement:
- Nominal scale: A variable consist of labels or names used to identify an attribute of the element.
- Ordinal scale: Exhibit the properties of nominal data and the order or rank of the data is meaningful.
- Interval scale: the properties of ordinal dta and the interval between values is expressed in terms of a fixed unit of measure.
- Ratio scale: the data have all the properties of interval data and the ratio of two values is meaningful.
Qualitative and quantitative data
Qualitative data: labels or names used to identify an attribute of each element.
Quantitative data: variable with quantitative data.
Cross-Sectional and time series data
- Cross-sectional data: data collected at the same or approximately the same point in time.
- Time series data: data collected over several time periods.
A population is the set of all elements of interest in a particular study.
A sample is a subset of the population.
Process of conducting a survey to collect data for the entire population.
Process of conducting a survey to collect data for a sample.