Often, the word point is used interchangeably, but we reserve point to describe a location in phase space and record to describe an item in a series. A sequence is a short grouping of consecutive, ordered records. A set is a grouping or collection, not necessary in any order. An individual item in a set is referred to as a member or a record . A statistic is a number which summarizes data.
Examples are the data mean or standard deviation.
Statistics should be used with care, as often they do not reveal information about a data set without further assumptions applied in the form of a test . A test combines a statistic with some additional knowledge and assumptions concerning the distribution of that statistic expected under some hypthesis of interest. A stream is a flow of data, and in an abstract sense, its beginning and end are of no particular concern. A stream may be sampled for a finite duration to produce a series . As in computer applications, a stream is an abstract information source.