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Lucy and Lincoln are salespeople working for the same company with equal skills, ability, and experience. Both are paid a small base salary but the majority of their compensation is in the form of a commission, which is a percentage of the sales they make. Lucy earns more each year than Lincoln. What can you conclude about Lucy and Lincoln?
Central Tendency
A statistical measure that identifies a single value as representative of an entire distribution of data.
Inferential Statistics
The branch of statistics that allows for making predictions or inferences about a population based on a sample of data.
Descriptive Statistics
Statistical methods that summarize and organize data into patterns and trends, without drawing conclusions or inferring beyond the data.
Correlation Coefficient
A statistical measure that calculates the extent to which two variables change together or the degree of association between them.
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