week one content

Question 1

inferential statistics

Answer 1

employs techniques to relate data in a given sample. for example, correlation.

Question 2

descriptive statistics

Answer 2

they summarise the characteristics of a given sample. for example, mean, median and mode

Question 3

what are the two parts descriptive statistics are divided into?

Answer 3

measures of central tendency
measures of variability

Question 4

what is parameter?

Answer 4

this is the summary measure of a population

Question 5

what is a sample?

Answer 5

a sample is a subset for a population

Question 6

what is a statistic?

Answer 6

it is the summary measure of the sample.

Question 7

what is probability?

Answer 7

it is the study of the likelihood, it is also the connection between the descriptive and inferential statistic.

Question 8

what are statistics good for?

Answer 8

forecasting trends :
they can predict the trend

describing a complex world:
for example, explaining income inequality

capturing relations:

evaluating decisions and policies