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    Statistics For Dummies - Cheat Sheet

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    Statistics For Dummies - Cheat Sheet

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    alastairwong90
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    Statistics for Dummies - Cheat Sheet

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    838 views3 pages

    Statistics For Dummies - Cheat Sheet

    Uploaded by

    alastairwong90
    Stats

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    At a glance
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    The key takeaways are understanding common statistical formulas, sample size calculation, confidence intervals, and hypothesis testing.

    Some common descriptive statistics include mean, median, mode, range, variance, and standard deviation. They measure things like the center and spread of the data.

    The formula to calculate the sample size needed to estimate a population mean is: n = (MOE)^2 * σ^2 / z^2, where MOE is the margin of error, σ is the population standard deviation, and z is the critical value corresponding to the confidence level.

    Statistics For Dummies

    Cheat Sheet

    From Statistics For Dummies, 2nd Edition by Deborah Rumsey

    Copyright 2013 & Trademark by John Wiley & Sons, Inc. All rights reserved.

    Whether youre studying for an exam or just want to make sense of data around you every day,
    knowing how and when to use data analysis techniques and formulas of statistics will help. Being
    able to make the connections between those statistical techniques and formulas is perhaps even
    more important. It builds confidence when attacking statistical problems and solidifies your
    strategies for completing statistical projects.

    Understanding Formulas for Common Statistics


    After data has been collected, the first step in analyzing it is to crunch out some descriptive
    statistics to get a feeling for the data. For example:
    Where is the center of the data located?
    How spread out is the data?
    How correlated are the data from two variables?
    The most common descriptive statistics are in the following table, along with their formulas and a
    short description of what each one measures.

    Statistically Figuring Sample Size


    When designing a study, the sample size is an important consideration because the larger the
    sample size, the more data you have, and the more precise your results will be (assuming highquality data). If you know the level of precision you want (that is, your desired margin of error), you
    can calculate the sample size needed to achieve it. To find the sample size needed to estimate a
    population mean (), use the following formula:
    In this formula, MOE represents the desired margin of error (which you set ahead of time), and
    represents the population standard deviation. If is unknown, you can estimate it with the sample
    standard deviation, s, from a pilot study; z* is the critical value for the confidence level you need.

    Surveying Statistical Confidence Intervals


    In statistics, a confidence interval is an educated guess about some characteristic of the
    population. A confidence interval contains an initial estimate plus or minus a margin of error (the
    amount by which you expect your results to vary, if a different sample were taken). The following
    table shows formulas for the components of the most common confidence intervals and keys for
    when to use them.

    Checking Out Statistical Confidence Interval Critical Values


    Critical values (z*-values) are an important component of confidence intervals (the statistical
    technique for estimating population parameters). The z*-value, which appears in the margin of error
    formula, measures the number of standard errors to be added and subtracted in order to achieve
    your desired confidence level (the percentage confidence you want). The following table shows
    common confidence levels and their corresponding z*-values.
    Confidence Level z*- value
    80%

    1.28

    85%

    1.44

    90%

    1.64

    95%

    1.96

    98%

    2.33

    99%

    2.58

    Handling Statistical Hypothesis Tests


    You use hypothesis tests to challenge whether some claim about a population is true (for example,
    a claim that 40 percent of Americans own a cellphone). To test a statistical hypothesis, you take a
    sample, collect data, form a statistic, standardize it to form a test statistic (so it can be interpreted on
    a standard scale), and decide whether the test statistic refutes the claim. The following table lays
    out the important details for hypothesis tests.

    1.

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