There are hundreds of statistics terms in the world. But here we have discussed the major statistics terms that is quite helpful for the students.

1. Major Types of
Statistics Terms That
You Should Know
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2. TODAY'S
DISCUSSION
Statistics basic Terms
• Mean, Median
• Mode, Significance, P-value
• Correlation, R-value
Statistics key terms
• Population,Parameter,
Descriptive statistics
• Statistical inference, Skew
• Range,Variance,Standard
Deviation
• Data, Probability
Conclusion

3. Mean
Mean is a part of descriptive statistics. It is the average of the given data set. You can calculate the mean by adding
all the values of the data set and then divide the values’ sum by the number of values in the data set.
For example, if you have the data set of students age i.e., 16, 18, 17, 20, 15 years. In this case, you can calculate the
mean by adding all the values i.e., 86 years. And then you need to divide it from the total number of values i.e., 5.
Now the mean is 86/5= 17.2 years.
The median is the part of central tendency. Median can be found by arranging the observations in order from the
smallest to the most significant values. Median is the middle value of the data set. If the data set contains the odd
numbers of observations, then the middle value automatically becomes the median.
On the other hand, if we have an even number of observations, then the median is calculated by the average of the
middle values. For example, the data set of students age i.e., 16, 18, 17, 20, 15 years. In this data set, the median is 17
years.
Median
STATISTICS
BASIC TERMS

4. STATISTICS
BASIC TERMSMode
The mode is the value that appears most often in the given dataset. Mode value is more likely to be sampled from the
given data set. For example you have a data set of 10 student’s age i.e. 13, 13, 14, 14, 15,16, 16, 16, 17, 17. Here in this
given date, set 16 is the mode because it is occurring three times.
The significance in statistics is statistical hypothesis testing. It is less likely to occur and give the null hypothesis.
Significance
P-value
The P-value works as evidence against the null hypothesis. In other words, it is used to reject the null hypothesis. If
you have a smaller p-value, then the null hypothesis would have stronger evidence to reject the null hypothesis. More
often, the P-value expressed in the form of decimal numbers. But if you cover these values into the percentage. Then
you can easily understand that these values, i.e., 0.0452, are 4.52%.

5. Correlation
Correlation is one of the widely used statistical terms. In fact, it is the statistical technique Correlation is an
analytical technique that is used to show the relationship between the pairs. We can get to know how
strongly the pairs are related to one another with the help of correlation. For example, height and weight are
related to each other. For instance, taller people would have a heavyweight than short people.
The r-value In statistics measures the strength and direction of the linear relationship between two different
variables that are plotted on the scatterplot. The value of r is always between 1 and -1. You need to make
sure that your correlation r-value is close to 1 or -1. In this way, it becomes easy to interpret r values.
R-value
STATISTICS
BASIC TERMS

6. STATISTICS
KEY TERMSPopulation
The population is statistics is the set of similar items and events that may have a similar interest to some
questions and experiments. It can be a group of existing objects and a potentially infinite group of objects.
In statistics, the parameter is also known as the population parameter. It is the quantity of the population that
we enter into the probability distribution of statistics. Apart from that, we can also consider it as the numerical
characteristic of a statistical population. In other words, it uses quantitative characteristics of the population
that you are going to use for testing.
Parameter
Descriptive statistics
It is the descriptive coefficient that is used to summarize the given data set. You can represent the entire data
set or the sample to the data set. Descriptive statistics has two major parts i.e., the measure of central
tendency and measure of variability. The sample mean, median, mode, standard deviation, correlation, and
regression is the part of descriptive statistics.

7. STATISTICS
KEY TERMS
Statistical inference
It is the process that uses data analytics to deduce the properties of the underlying distributions of statistics.
We use it to conclude the given data set. There are four major types of statistics inference i.e., regression,
confidence intervals, and hypothesis tests.
The skew occurs when we have more scores toward one end of the distribution as compared with the other.
Apart from that, the negative skew occurred when we have the scores clustered at the high end, and the fewer
scored on the low end in a tail. On the other hand, if the distribution has a tail at the high end, you will have a
positive skew.
Skew

8. STATISTICS
KEY TERMS
Range
The range is widely used in statistics terms in research. It is the distance between the maximum as well as the
minimum values of the distribution.
Statistics variance is simply the statistical average of the dispersion of scores in the statistics distribution. It is
used with the standard deviation other than that it is not entirely useful in statistics.
Variance
Standard Deviation
The standard deviation is the measure of the variation amount and the depression of a set of values. If the
value trend is close to the set of the means, then the standard deviation would be low. On the other hand, if the
value spread out over the wider range, there would be a high standard deviation.

9. STATISTICS
KEY TERMS
Data
Data is the set of observations that can be collected from various mediums. The data is divided into two parts i.e., the
quantitative data and the qualitative data. Quantitative data can be measured easily because it has numeric values. It
is further divided into two groups, i.e., the discrete and continuous data.
The discrete data are those data values where we know the exact number i.e., the number of students in the class. And
the continuous data is where we don’t know the exact value of data i.e., the weight of the language. On the other hand,
the quantitative data is not present in the numerical values i.e., the hobbies of a group of individuals.
Probability is one of the major branches of mathematics. But it is the crucial term of statistics and widely used with
advanced statistics. It is used to measure how likely the given event is going to occur. Probability is measured between
the values 0 and 1. If the value is 0, then it is impossible for the event. And if the value is 1 then it is certain that the
event will happen. There are various types of probability and probability distributions, and it is widely used in data
science and big data analytics.
Probability

10. Conclusion
Let’s end this blog with these basic and critical statistics terms. We know that there
are more statistics terms which you can find in statistics glossary i.e., various types of
tests in statistics, ANOVA, MANOVA, theorems, and lots more. But here we have
mentioned those statistics terms that will help you a lot with your statistics education
as well as your profession.

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