3. Math Tech IIII, Aug 23 Fundamental Terms and Definitions
Book Sections: 1.1
Essential Questions: What are the building blocks of Statistics, what do I call them and what do they mean?
Standards: DA-4.1, DA-4.2, DA-4.3

4. Key Words for Statistics
Data – Information coming from observations, counts, measurements, or responses.
Statistics – The science of collecting, organizing, analyzing, and interpreting data in order to make decisions.

5. Key Words for Statistics
Data Sets – There are two types of data sets in statistics: populations and samples.

6. Examples - Identifying Data Sets

7. Key Words for Statistics I
Parameter – A numerical description of a population characteristic.
A Statistic – A numerical description of a sample characteristic.

8. Examples
A recent survey of 200 college career centers reported that the average starting salary for petroleum engineering majors is $83,121.
The 2182 students who accepted admission offers to Northwestern University last year had an average SAT score of 1442.

9. More Key Words for Statistics Branches of Statistics
Descriptive Statistics – Statistics that involve the organization, summarization, and display of data.
Inferential Statistics – Statistics that involve using a sample to draw conclusions about a population. A basic tool of inferential statistics is probability.

10. Examples Descriptive or Inferential
A large sample of 48 year old men was studied for 18 years. Approximately 70% of single men and 90% of married men was alive at age 65.
In a sample of Wall Street analysts, 44% incorrectly forecasted high-tech earnings last year.

11. Examples

12. Classwork: Textbook p.6, 1-22 evens
Homework – Handout 8/23/12, 1-10