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Understanding Statistics: Essential Concepts Explored

Explore key statistical terms - data, statistics, population, sample, parameter, statistic, descriptive statistics, and inferential statistics - and their applications in decision-making. Practice problems and examples included.

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Understanding Statistics: Essential Concepts Explored

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  1. 1.1 An Overview of Statistics Mrs. Leonard Elem Stat

  2. Vocabulary • Data – • Statistics – information coming from observations, counts, measurements, or responses the science of collecting, organizing, analyzing, and interpreting data in order to make decisions

  3. Vocabulary • Population – • Sample - the collection of ALL outcomes, responses, measurements, or counts of interest Ex. - All the students at CGHS subset of a population Ex. - The Senior Class

  4. Population: the responses of all American adults Sample: the responses of the 1708 adults in the survey Data Set: the 939 yes’s and the 769 no’s

  5. Vocabulary • Parameter – • Statistic – numerical description of a Population characteristic numerical description of a Sample characteristic Examples of both are means or standard deviation.

  6. 1) Statistic – because we are looking at a sample of MBA’s 2) Parameter – because we are looking at all the graudates from the University of Chicago 3) Statistic – because we are looking at a sample of stores

  7. Vocabulary • Descriptive Statistics – • Inferential Statistics – branch of statistics that involves the organization, summarization, and display of data Ex. - 67% of the pets at my house are dogs, while 33% are cats. branch of statistics that involves using a sample to draw a conclusion about a population Ex. - I have more dogs than cats.

  8. 1) Descriptive Statistics – “For unmarried men, 70% were alive at age 65. For married men, 90% were alive at age 65.” Inferential Statistics – Married men live longer than unmarried men. 2) Descriptive Statistics – “44% of Wall Street analysts in correctly forecasted high-tech earnings in a recent year.” Inferential Statistics – The Stock Market is difficult to forecast.

  9. More Practice • The US Dept of Energy conducts weekly surveys of 800 gasoline stations to determine the average price per gallon of regular gasoline. On July 10, 1998, the average price was $1.066 per gallon. a) Identify the population. b) Identify the sample. c) What does the data set consist of?

  10. More Practice 2) In 1997, major league baseball teams spent a total of $1,119,537,215 on players’ salaries. Does this numerical value describe a parameter or a statistic?

  11. More Practice 3) A survey conducted among 1017 men and women by Opinion Research Corporation found that 76% of women and 60% of men had a physical examination within the previous year. a) Identify the descriptive aspect of the survey. b) What inferences could be drawn from this survey?

  12. Answers to More Practice • a) b) c) 2) • a) b) All Gas Stations The 800 Gas Stations Price Per Gallon at each of the 800 Stations Parameter, because we are dealing with a population. 76% of women and 60% of men has a physical the previous year Women care more about their health

  13. Homework Textbook Pg. 8-10 (2, 4, 5, 6, 12, 14, 16, 20, 24, 40)

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