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Basic Statistical Terms
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Mean
The sum of all values divided by the number of values.
Median
The middle value when all the numbers are ordered from least to greatest.
Mode
The most frequently occurring value in a dataset.
Variance
The average of the squared differences from the mean.
Standard Deviation
The square root of the variance, measuring the amount of variation or dispersion in a set of values.
Range
The difference between the highest and lowest values in a dataset.
Interquartile Range (IQR)
A measure of statistical dispersion, being equal to the difference between the 75th and 25th percentiles, or between upper and lower quartiles.
Outlier
A value that lies outside the overall pattern of a distribution, usually significantly higher or lower than most of the other values in a set.
Sampling
The process of selecting a subset of individuals from a population to estimate characteristics of the whole population.
Population
The entire group of individuals or instances about whom we hope to learn.
Sample
A subset of a population, selected to represent the population in a statistical study.
Random Variable
A variable whose possible values are numerical outcomes of a random phenomenon.
Probability
A measure of the likelihood that an event will occur.
Normal Distribution
A symmetric, bell-shaped distribution of data that is fully described by the mean and standard deviation.
Central Limit Theorem
The theorem that states the sampling distribution of the sample mean will be approximately normally distributed if the sample size is large enough, regardless of the shape of the population distribution.
Correlation
A statistical measure that describes the extent to which two variables are related.
Regression
A statistical method used to examine the relationship between two or more variables.
Null Hypothesis
A general statement or default position that there is no relationship between two measured phenomena.
Alternative Hypothesis
The hypothesis that states there is a statistically significant effect or relationship.
Confidence Interval
A range of values that is likely to contain the population parameter with a certain level of confidence.
p-value
The probability of obtaining test results at least as extreme as the results actually observed, under the assumption that the null hypothesis is correct.
Type I Error
The incorrect rejection of a true null hypothesis (also known as a 'false positive').
Type II Error
The failure to reject a false null hypothesis (also known as a 'false negative').
Power
The probability that a statistical test will reject the null hypothesis when the alternative hypothesis is true.
Effect Size
A quantitative measure of the magnitude of the experimental effect.
Statistical Significance
The likelihood that a result or relationship is caused by something other than mere random chance.
Histogram
A graphical representation of the distribution of numerical data.
Biased Sample
A sample that does not fairly represent the population.
Parameter
A numerical value that summarizes a characteristic of the population.
Statistic
A numerical measure that describes an aspect of a sample.
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