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Statistics in a Nutshell
Interested in Entire Population Large Population = Expensive Surveys Sample a Small Group
– Infer Population Characteristics– from Sample Characteristics
Examples
Exit polls on election day Marketing surveys for new products Medical trials for new vaccines Neilson ratings of television shows Air measurements for pollutants
Definitions
Population --- Universe (Entire Group) Parameter
Numeric Characteristic of a Population Average, Variance, Standard Deviation, etc
Sample --- Subgroup of the Population Statistic
Numeric Characteristic of a Sample Average, Variance, Standard Deviation, etc
Sampling
Sampling is faster, cheaper, easier.
Sampling
Sampling is faster, cheaper, easier.
Hope, that the sample is representative of the
population; and therefore, the sample statistic
is an accurate estimate of the population
parameter.
Sampling
Sampling is faster, cheaper, easier.
Hope, that the sample is representative of the
population; and therefore, the sample statistic
is an accurate estimate of the population
parameter.
If the sample is not representative of the
population, then all bets are off !
Statistics
Descriptive Statistics– Collecting and Analyzing Data– “Tells a story about the numbers”
Inferential Statistics– Drawing conclusions about a population
Descriptive Statistics
Measures of Central tendency– Mean (Arithmetic Average)– Median (Middle Value)
Measures of Variation– Variance– Standard Deviation
Measures of Central Tendency
Mean– Arithmetic Average– Balance Point– Basis for other statistics– Influenced by extremes
Median– Middle Value– Different Balance Point– Not influenced by extremes
Important Statistics
Mean– Tells where the data is centered
Standard Deviation– Tells how far the data is spread out
Family Reunion
Babies, youngsters, teenagers
young adults, middle-aged parents
grandparents, great grandparents
Average Age ?????
Standard Deviation ?????
15th High School Reunion
Average Age ?????
Standard Deviation ?????