1.1 An Overview of Statistics

Chapter 1 Introduction to Statistics Larson/Farber 4th ed.

Section 1.1 An Overview of Statistics Larson/Farber 4th ed.

What is Data? ,[object Object],[object Object],[object Object],Larson/Farber 4th ed.

What is Statistics? ,[object Object],Larson/Farber 4th ed.

Data Sets A population is the collection of all outcomes, responses, measurements, or counts that are of interest. Larson/Farber 4th ed. There are two types of data sets used in statistics: A Sample is a subset of the population.

Data Sets ,[object Object],[object Object]

Example 1: Identifying Data Sets ,[object Object],Larson/Farber 4th ed.

Solution 1: Identifying Data Sets ,[object Object],[object Object],[object Object],[object Object],Larson/Farber 4th ed. Responses of adults in the U.S. (population) Responses of adults in survey (sample)

Example 2: Identifying Data Sets ,[object Object],Larson/Farber 4th ed.

Solution 2: Identifying Data Sets ,[object Object],[object Object],[object Object],[object Object],Larson/Farber 4th ed. Responses of adults in the U.S. (population) Responses of adults in survey (sample)

Parameter Versus Statistic ,[object Object],[object Object],[object Object],Larson/Farber 4th ed. A S tatistic is number that describes a s ample characteristic. Average age of people from a sample of three states

[object Object],Decide whether the numerical value describes a population parameter or a sample statistic. ,[object Object],Solution: Sample statistic (the average of $82,000 is based on a subset of the population) Larson/Farber 4th ed.

[object Object],Decide whether the numerical value describes a population parameter or a sample statistic. ,[object Object],Solution: Population parameter (the percent increase of 8.5% is based on all 667 graduates’ starting salaries) Larson/Farber 4th ed.

Branches of Statistics Descriptive Statistics Involves organizing, summarizing, and displaying data. e.g. Tables, charts, averages Larson/Farber 4th ed. The study of statistics has two major branches: Inferential Statistics Involves using sample data to draw conclusions about a population.

Example 1: Descriptive and Inferential Statistics ,[object Object],A large sample of men, aged 48, was studied for 18 years. For unmarried men, approximately 70% were alive at age 65. For married men, 90% were alive at age 65. (Source: The Journal of Family Issues) Larson/Farber 4th ed.

Solution 1: Descriptive and Inferential Statistics ,[object Object],[object Object],Larson/Farber 4th ed.

Example 2: Descriptive and Inferential Statistics ,[object Object],In a sample of Wall Street analysts, the percent who incorrectly forecasted high-tech earnings in a recent year was 44%. (Source: Bloomberg News) Larson/Farber 4th ed.

Solution 2: Descriptive and Inferential Statistics ,[object Object],[object Object],Larson/Farber 4th ed.

Descriptive Statistics and Inferential Statistics ,[object Object]

1.1 An Overview of Statistics

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1.1 An Overview of Statistics

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