What is Variability in Statistics?

• Range - The difference between the highest and lowest numbers.
• Interquartile range - The range of a distribution's middle half.
• Variance - The average of squared deviations from the mean.
• Standard deviation - The average distance from the mean.

Demean Statistics

• degrade
• despise
• disparage
• belittle
• abase
• contemn
• debase

Elements of Statistics

• A population is a collection of all the units we're interested in examining (typically people, things, transactions, or events).
• A sample is a subset of a population's units.
• A measure of reliability is a statement (typically quantitative) concerning the degree of uncertainty associated with statistical inference.
• Statistical inference is an estimate, prediction, or other generalization about a population based on information contained in a sample.
• A variable is a trait or property of an individual experimental unit in the population.
• An experimental unit is a person, thing, transaction, or event about which data is collected.

What are limitations in Statistics?

• Statistics can't be used to variable data.
• Only someone with a thorough understanding of statistics can effectively manage statistical data.
• Quantitative data is the best fit for statistical approaches.
• Ignored Qualitative Aspect
• It does not tell the whole narrative about the phenomenon.
• Laws aren't always exact.
• Individual items are beyond the scope of statistics to explain.
• Statistics have the potential to be abused.

One variable vs Two variable Statistics

• Tally charts
• Frequency tables
• Bar graphs
• Histograms
• Pictographs
• Circle graphs

• Ordered pairs
• Scatter plots
• Two-column tables of values

Statistics Questions and Answers

• Statistics laws are, on average, correct. A single observation is not a statistic, because statistics are aggregates of facts. Statistics only deal with groups and aggregates.
• Statistical methods are most useful when dealing with numerical data.
• Statistics cannot be used on data that is heterogeneous.
• If statistical results are not collected, analyzed, and interpreted with adequate care, they may be misleading.
• Only someone with a thorough understanding of statistics can effectively manage statistical data. 
• Statistical decisions may contain some inaccuracies. Inferential statistics, in particular, are prone to errors. We have no way of knowing whether or not an error has been made.