Statistical Analysis
Definition
Statistical analysis involves collecting, organizing, analyzing, interpreting, and presenting data to make informed decisions or draw conclusions about a population based on sample data.
Analogy
Imagine you have a bag full of different colored candies. Statistical analysis is like sorting and counting each color to determine which one is most common or rare.
Related terms
Descriptive Statistics: Descriptive statistics summarize and describe important features or characteristics of a dataset.
Inferential Statistics: Inferential statistics involve making predictions or generalizations about a population based on sample data.
Hypothesis Testing: Hypothesis testing is used to determine if there is enough evidence to support or reject a claim about a population parameter.
"Statistical Analysis" appears in:
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Practice Questions (1)
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