MAT 117 Final: [MAT 117] - Final Exam Guide - Ultimate 73 pages long Study Guide!

• School: Pace University
• Department: Mathematics
• Course: MAT 117
• Professor: Vinh Ly

Document Summary

Statistics: the science of collecting, organizing, & interpreting (analyzing) data before drawing conclusion; can also be interpreted as the data that describes or summarizes something. y=3x ibm stocks. For every dollar ibm stocks increases, apple stocks increase by more. This is the conclusion we make in statistics. y=1. 1x+2 linear relationship; correlation between apple & bmi stocks is 1. 1. We consider math as a tool to analyze the data sets in mathematic formulations. The role of statistics in the science of collecting, organizing, summarizing & analyzing information in order to draw out the conclusions & answer some specific questions asked. Analyzing info requires methodology (hardest part) & assumptions: ex: investigate whether apple & ibm stocks will be linear. The methodology is just the approximation of the relation between apple & Statistics conclusion is objective; there is no right or wrong in statistics. 2 branches of statistics: descriptive stats (easy part)