Intro to Statistics

There are millions of houses in the US and we want to know the average price of the houses. It is nearly impractical to solve this problem by adding all the houses prices and dividing by the number of houses. The best thing that we can do is to estimate the averages of the houses.  To do this, we can randomly select a number of houses, lets say 500 of them, and find the average of those houses. 
Identify the statistic in this setting.

• The average of the data

• The price attached to each house.

• The average value of all US houses

• The 500 houses.

The main purpose of descriptive statistics is to:

• Summarize data in a useful and informative manner.

• Make inferences about a population.

• Determine if the data adequately represents the population.

• Gather or collect data.

Identify the sample:

A survey of 500 adults in the U.S. found that 54% drink coffee daily.

• A collection of the 500 adults surveyed

• Collection of all adults in the U.S.

• 54%

• 500

Which definition BEST describes the discrete variable?

• A qualitative variable that characterizes, describes or names an element of a population

• A quantitative variable that can assume a countable number of values, in other words, there is a gap between any two values

• A qualitative variable that incorporates an ordered position or ranking

• A quantitative variable that can assume an uncountable number of values, in other words, it includes every possible values between any two values

is when we take a small part of a larger group to estimate characteristics about the whole group.

• statistics

• variability

• sampling

is information given in numbers. Usually this is information you can count or measure.

• data

• quantitative data

• qualitative data

The two branches of Statistics are:

• marketing and accounting

• descriptive and inferential

• primary and secondary

• quantitative and qualitative

Which term refers to the most common number?

• Mean

• Median

• Mode

• Range

Identify the population:

A survey of 500 adults in the U.S. found that 54% drink coffee daily.

• A collection of the 500 adults surveyed

• Collection of all adults in the U.S.

• 54%

• 500

_____ is the study of data.

• statistics

• variability

• sampling