- Describe the basic equation for statistical models (outcome=model + error)
- Describe different measures of central tendency and dispersion, how they are computed, and which are appropriate under what circumstance.
- Describe the concept of a Z-score and when they are useful.
One of the fundamental activities in statistics is creating models that can summarize data using a small set of numbers, thus providing a compact description of the data. In this chapter we will discuss the concept of a statistical model and how it can be used to describe data.