Probability and Statistics
Probability and Statistics Terms
Get down with the lingo
ProbabilityLikelihood or chance of the occurrence of an event.
Qualitative DataData that can be represented with qualitative features.
Quantitative DataData that can be represented with numbers.
Categorical DataData that can be organized into mutually exclusive groups or categories.
GraphA diagram representing data or relationship(s) between variables.
Discrete DataA type of data for which there is only a finite number of possible values.
Continuous DataA type of data for which there is no possible separation between the possible values.
Univariate DataData with only one variable. Not to be confused with data on a unicycle.
Bivariate DataData that deals with relationships between two variables.
Mean (Average)The sum of all the data points divided by the number of data points.
MedianThe middle value of a list of data points.
ModeThe data point with highest frequency.
QuartilesA set of points that divide the data set into three equal parts.
Stem And Leaf PlotA representation of data where each data point is split into a leaf and a stem. The leaf is usually the last digit, and the stem consists of the other digits.
Bar GraphA representation of data that uses rectangular bars to show the magnitude of categorical variables. Useful in all sorts of real-life situations.
HistogramA representation of data that uses rectangular bars to show the magnitude of quantitative variables.
Pie ChartA circular graph divided into sectors, where the area of each sector is proportional to the relative size of the quantities represented. Also incredibly useful in real life.
Box And Whisker PlotA representation of data that displays the range and quartiles of the data set. Looks like a kitty cat when you squint and tilt your head to the left.
Interquartile RangeThe difference between the third and the first quartile.
OutliersData points that are numerically far away from the rest of the data set. The loners of the group, if you will.
Scatter PlotA graph of points showing the relationship between two variables.
Linear RegressionFitting a straight line to a set of data points to find the linear relationship between the dependent and independent variables.
CorrelationThe measure of the linear relationship between two variables. Is not causation.
OddsThe ratio of the probability that an event will happen to the probability that it will not happen.
EventA set of outcomes of an experiment.
Mutually Exclusive EventEvents A and B are mutually exclusive if the occurrence of event A implies event B cannot occur.
Independent EventEvents A and B are independent if the outcome of event A has no effect on the outcome of event B. It's grown up! It can do what it wants!
Factorialn! = n × (n – 1) × (n – 2) . . . × 2 × 1. The most excited of all key terms.
PermutationOne of all possible rearrangements of a collection of objects.
CombinationOne of all possible ways of choosing objects out of a larger group where order does not matter. Not Judge Judy's favorite math concept, that's for sure.
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