STATISTICS DEFINITIONS

Descriptive statistics according to www.businessdictionary.com , is mathematical quantities method that summarize and interpret some of the properties of a set of data but do not infer the properties of the population from which the sample was drawn   (WebFinance, Inc). Trochim (2006) referred to, descriptive statistics we are describing what is or what the date show, and it is use to present quantitative descriptions in a manageable form (Trochim, 2006). For the other hand, inferential statistic is mathematical methods that employ probability theory for deducing the properties of a population from the analysis of the properties of a data sample drawn from it. (WebFinance, Inc) .It is concerned also with the precision and reliability of the inferences it helps to draw. Trochim (2006) explains that with the inferential statistic we could obtain conclusions that extend beyond the immediate data alone. (Trochim, 2006).

Sample is a smaller, manageable version of a large group; a subset containing the characteristics of a large population (Investopedia ULC), and the population are the entire pool from which a statistical sample is drawn.

Examples: Population= 70 years old men with cardiovascular disease in Tampa.

                  Sample= 70 years old men with cardiovascular disease seen in the office

                  of Cardiovascular Center of Tampa.

Statistic is a process that analyst, mathematician or statistician use to characterize a data set (Investopedia ULC) is something that describes a sample, and is used as an estimator for a population parameter; it is the end result of a calculation. Parameter in businessdictionary.com is describes like a definable, measurable, and constant or variable characteristic, dimension, property, or value, selected from a set of data, because it is considered essential to understanding a situation, or solving a problem. (WebFinance, Inc). Statistic describes a sample, whereas a parameter describes an entire population.

 Discrete data is an individually recognizable and countable, distinct and separate from the similar items, finite and non-continuous. (WebFinance, Inc), and Continuous data is a set of observations usually associated with physical measurement that can take on any mathematical value within specified parameters. It can take any value on a range.

Bibliography

Investopedia ULC. (n.d.). investopedia.com. Retrieved June 18, 2012, from http://www.investopedia.com/terms/s/sample.asp#axzz1y9dYCGdG

Trochim, W. M. (2006). Knowledge base research methods. Retrieved june 18, 2012, from 

http://www.socialresearchmethods.net/kb/statdesc.php

WebFinance, Inc. (n.d.). Businessdictionary.com. Retrieved June 18, 2012, from http://www.businessdictionary.com/definition/descriptive-

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