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19 views

Statistics

Uploaded by

msalmanali0069
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Statistics; The study of collecting, analyzing, interpreting, and presenting data.

Variation; The degree of difference among data points within a set.


Data; Collected information or observations for analysis.
Qualitative Data; Non-numeric data describing categories or qualities.
Qualitative Data; Numeric data that can be counted or measured.
Analytical Statistics; Techniques used to draw inferences about a population from a sample.
Descriptive Statistics; Methods to summarize and describe key features of data.
Location; Measures indicating the center of a data set, like mean or median.
Dispersion; Measures showing the spread of values around the center, like range or variance.

Measure of Location
Aim (estimate)
Quantitative
Mean (X Bar) = EX/n
Median (X~) = (n+1/2) th observation
Median = (n/2)th observation+ (n/2+1)th observation//2
Qualitative
Mode (X^) = The most frequent Observation

Measure of Dispersion
Standard Deviation= σ = √ (∑ (X-X Bar)2 / N
Coefficient of Variation= SD*100/X bar
Confidence Interval = X bar - SD
Standard Error = SD/ n
Metric When It’s Measured
Standard Deviation To assess the variability of data points
around the mean within a sample or
population.
Standard Error To estimate the accuracy of a sample mean
in representing the population mean.
Coefficient of Variation To compare relative variability between data
sets with different units or scales.
Confidence Interval To estimate a range in which a population
parameter likely falls based on sample data and
confidence level.

Metric With Respect to Mean With Respect to Dispersion


Standard Measures how far data points tend to be Quantifies overall variability of data
Deviation from the mean. around the mean.
Indicates the precision of the sample
Relates to how much sample means would
Standard Error mean as an estimate of the population
vary if repeated samples were taken.
mean.
Expresses the standard deviation as a Useful for comparing dispersion across
Coefficient of
percentage of the mean, showing different data sets regardless of their units
Variation
relative variability. or mean values.
Reflects the degree of uncertainty or
Provides a range that likely includes
Confidence variability in estimating the population
the population mean based on sample
Interval parameter within a specified confidence
mean and variability.
level.

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