ADMS 2320 Study Guide - Quiz Guide: Elementary Event, Mutual Exclusivity, Conditional Probability

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Staisics is a way to get informaion from data. Populaion is a complete set of items that share at least one property in common. Sample is a set of data drawn from populaion. Descripive staisics involves arranging, summarizing, and presening a set of data in such a way that useful informaion is produced. Inferenial staisics is method used to draw conclusions or inferences about characterisics of populaions based on data from a sample. Staisical inference is the process of making an esimate, predicion, or decision about a populaion based on a sample. Inference a measure of reliability: the conidence level and the signiicance level. Conidence level (1- ) is the proporion of imes that an esimaing procedure will be correct. Signiicance level ( ) measures how frequently the conclusion will be wrong in the long run. A variable is some characterisic of a populaion or sample. Values of the variable are the possible values for a variable.

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