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Bus/Stats
Chapter 2
38
Business
Undergraduate 1
05/29/2009

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Term
Variable
Definition
A characteristic that varies from one person or thing to another
Term
Qualitative Variable
Definition
A nonnumerically valued variable
Term
Quantitative Variable
Definition
A numerically valued variable
Term
Discrete Variable
Definition
A quantitative variable whose possible values form a finite (or countably infinite) set of numbers
Term
Continuous Variable
Definition
A quantitative variable whose possible values form some interval of numbers
Term
Data
Definition
Information obtained by observing values of a variable
Term
Qualitative Data
Definition
Data obtained by observing values of a qualitative variable
Term
Quantitative Data
Definition
Data obtained by observing values of a quantitative variable
Term
Discrete Data
Definition
Data obtained by observing values of a descrete variable
Term
Continuous Data
Definition
Data obtained by observing values of a continuous variable
Term
Grouping
Definition
Putting data into groups rather than treating each observation individually
Also one of the most common methods of organizing data
Term
Terms for grouping
Definition
Classes, Frequency, Frequency Distribution, Relative Frequency, Relative-Frequency Distribution, Lower Cutpoint, Upper Cutpoint, Midpoint, Width
Term
Classes
Definition
Categories for grouping data
Term
Frequency
Definition
The number of observations that fall in a class
Term
Frequency Distribution
Definition
A listing of all classes and their frequencies
Term
Relative Frequency
Definition
The ratio of the frequency of a class to the total number of observations
Term
Relative-Frequency Distributions
Definition
A listing of all classes and their relative freqiencies
Term
Lower Cutpoint
Definition
The smallest value that could go in a class
Term
Upper Cutpoint
Definition
The smallest value that could go in the next higher class. The upper cutpoint is a class is the same as the lower cutpoint of the next higher class
Term
Midpoint
Definition
The middle of a class, obtained by taking the average of its lower and upper cutpoints
Term
Width
Definition
The difference between the upper and lower cutpoints of a class
Term
Grouped Data Table
Definition
A table that provides the classes, frequencies, relative frequencies, and midpoints of a data set
Term
Lower limit
Definition
the smallest maturity period
Term
Upper Limit
Definition
The largest maturity period
Term
Mark
Definition
When utilizing class limits to depict classes, we use marks instead of midpoints. It is the average of its lower and upper limits
Term
Frequency Histogram
Definition
A graph that displays the classes on the horizontal axis and the frequencies of the classes on the vertical axis. The frequency of each class is represented by a vertical bar whose hight is equal to the frequency of the class
Term
Relative-Frequency Histograms
Definition
A graph that displays the classes on the horizontal axis and the relative frequencies of the classes on the vertical axis. The relative frequency of each class is represented by a vertical bar whose height is equal to the relative frequency of the class
Term
Dotplot
Definition
Another type of graphical display for quantitative data
Term
Pie Chart
Definition
Disk divided into wedge-shaped pieces that are proportional to the relative frequencies
Term
Bar Graph
Definition
Like a histogram but they do not touch each other
Term
Stem and leaf diagrams
Definition
leading digits are stems and final digits are leafs
They can be shaded, ordered, or regular
Term
Distribution of a data set
Definition
Is a table, graph, or formula that provides the values of the observations and how often they occur
Term
Unimodal
Definition
distribution that has one peak
Term
Bimodal
Definition
Two Peaks
Term
Multimodal
Definition
has three or more peaks
Term
Population Distribution or Distribution of the variable
Definition
the distribution of population data
Term
Sample Distribution
Definition
The distribution of sample data
Term
Truncated Graphs
Definition
Cause the bars to be out of correct proportion and creates a misleading impression of the graph.
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