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A data point or observation is a set of one or more measurements on a single member of the unit of observation. For example, in a study of the determinants of money demand with the unit of observation being the individual, a data point might be the values of income, wealth, age of individual, and number of dependents.
The five-number summary is a set of descriptive statistics that provides information about a dataset. It consists of the five most important sample percentiles: the sample minimum (smallest observation) the lower quartile or first quartile; the median (the middle value) the upper quartile or third quartile; the sample maximum (largest observation)
In descriptive statistics, summary statistics are used to summarize a set of observations, in order to communicate the largest amount of information as simply as possible. Statisticians commonly try to describe the observations in a measure of location, or central tendency, such as the arithmetic mean
The estimator is a function of the sample of n observations drawn without observational bias from the whole population of potential observations. In this example, the sample would be the set of actual measurements of yesterday's rainfall from available rain gauges within the geography of interest.
The mean of a set of observations is the arithmetic average of the values; however, for skewed distributions, the mean is not necessarily the same as the middle value (median), or the most likely value (mode). For example, mean income is typically skewed upwards by a small number of people with very large incomes, so that the majority have an ...
A "sampling unit" (or unit of observation) is typically thought of as an object that has been sampled from a statistical population. This term is commonly used in opinion polling and survey sampling. For example, in an experiment on educational methods, methods may be applied to classrooms of students.
Univariate is a term commonly used in statistics to describe a type of data which consists of observations on only a single characteristic or attribute. A simple example of univariate data would be the salaries of workers in industry. [1]
A data set (or dataset) is a collection of data. In the case of tabular data, a data set corresponds to one or more database tables, where every column of a table represents a particular variable, and each row corresponds to a given record of the data set in question. The data set lists values for each of the variables, such as for example ...