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What Is the Process of Analyzing Data to Extract Information

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What is the process of analyzing data to extract information not offered by the raw data alone?


Definitions:

Rule of Five

An empirical rule suggesting that extreme observations in data, more than five standard deviations from the mean, are rare.

Expected Value

The long-term average value of a random variable over numerous trials.

Student Body Proportions

The distribution of various characteristics (e.g., gender, major, year) within a school's student population, often analyzed in educational studies.

Chi-squared Goodness-of-fit Test

A statistical test used to determine whether an observed distribution differs from an expected distribution.

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