Shared Flashcard Set

Details

Dec Sci Basics 1
noteworthy vocab in statistics
18
Business
Undergraduate 2
05/20/2010

Additional Business Flashcards

 


 

Cards

Term
population
Definition
is the collection of all members in a group
Term
sample
Definition
is the portion of the population selected for analysis
Term
parameter
Definition
is a numerical measure that describes a characteristic of a population
Term
statistic
Definition
is a numerical measure that describes a characteristic of a sample
Term
two branches of statistics
Definition
descriptive: collect and present data
inferential: drawing conclusions
Term
estimation
Definition
estimate the population mean weight using the sample mean weight
Term
hypothesis testing
Definition
test the claim that the population mean weight is 120LB
Term
two categories of data
Definition
categorical
numerical
Term
categorical data
Definition
marital status
political party
eye color
Term
numerical data
Definition
discrete: counted items; #defects/hour
continuous: measurements; weight, voltage
Term
nominal data
Definition
weakest form of measurement, just categories no ordering

marital status, type of car owned
Term
ordinal data
Definition
ordered categories; rankings, order, or scaling

service quality rating, students grades
Term
interval data
Definition
differences between measurements but no true zero

temperature in F, std exam score
Term
ratio data
Definition
differences between measurements, true zero exists. strongest level of measurement

height,age,weekly food spending
Term
primary data collection
Definition
observation
survey
experimentation
Term
secondary data compilation
Definition
print of electronic sources
Term
pareto chart
Definition
bars are ordered from largest to smallest
Term
histogram
Definition
has no spaces in between bars
Supporting users have an ad free experience!