# Shared Flashcard Set

## Details

Econometrics Chapter 1
Chapter 1 Econometrics
28
Economics
01/17/2013

Term
 binomial qualitative variable
Definition
 a qualitative variable about which observations can be made in only two categories
Term
 bivariate data set
Definition
 a data set containing information on two variables
Term
 continuous quantitative variable
Definition
 a quantitative variable that an assume values at all points on a scale of values, with no breaks between possible values
Term
 controlled experiment
Definition
 the collection of data aobut perosns or objects by deliberately exposing them to some kind of change, while leaving all else unchanged, and subsequently recording how identical persons or objects respond to different types of change, or how different types of persons or objects respond to identical change
Term
 data set
Definition
 any collection of observations about one or more characteristics of interest possessed by one or more elementary units
Term
 datum
Definition
 any single observation about a specified characteristic of interest possessed by an elementary unit; the basic unit of the statistician's raw material
Term
 deductive reasoning
Definition
 drawing inferences about an unknown part from a known whole
Term
 descriptive statistics
Definition
 a branch of the discipline that is concerned with developing and utilizing techniques for effectively presenting numerical information so as to highlight patterns otherwise hidden in data sets
Term
 discrete quantitative variable
Definition
 a quantitative variable that can assume values only at specific points on a scale of values, with inevitable gaps between them
Term
 elementary units
Definition
 persons or objects that have characteristics of intrest to statisticians
Term
 frame
Definition
 a complete listing of all elementary units relevant to a statistical investigation
Term
 inductive reasoning
Definition
 drawing inferences about an unknown whole from a known part
Term
 inferential statistics or analytical statistics
Definition
 a branch of the discipline that is concerned with developing and utilizing techniques for properly analyzing (or drawing inferences from) numerical information
Term
 interval data
Definition
 numbers that possess all the characteristics of ordinal data and, in addition, relate to one another by meaningful intervals or distances, because all number are referenced to a common although admittedly arbitrary) zero point
Term
 measurement
Definition
 the assignment of numbers to characteristics that are being observed
Term
 Multinomial qualitative variable
Definition
 a qualitative variable about which observations can be made in more than two categories
Term
 multivariate data set
Definition
 a data set containing information on more than two variables
Term
 nominal data
Definition
 numbers that merely name or label differences in kind, and, thus, can serve the purpose of classifying observations about qualitative variables into mutually exclusive groups where the numbers in each group can then be counted
Term
 observational study or survey
Definition
 the collection of data about persons or obejcts by merely recording information about selected characteristics of interest (such as A or B), while paying no attention to possibly widely diverging other characteristics (such as C or D) that may affect the chosen characteristics
Term
 ordinal data
Definition
 numbers that label differences in kind, as nominal data do, but that, in addition by their very size also order or rank observations on the basis of importance
Term
 population
Definition
 the set of all possible observations about a specified characteristic of interest
Term
 qualitative variable
Definition
 a variable that is normally described in words rather than numerically (because it differs in kind rather than degree among elementary units)
Term
 quantitative variable
Definition
 a variable that is normally expressed numerically (because it differs in degree rather than kind among the elementary units under study)
Term
 ratio data
Definition
 numbers that possess all the characteristics of interval data and, in addition, have meaningful ratios because they are referenced to an absolute or natural zero point hat denotes the complete absence of the characteristic being measured
Term
 sample
Definition
 a subset of a statistical population or of the frame form which it is derived
Term
 statistics
Definition
 a branch of mathematics that is concerned with facilitating wise decision making in the face of uncertainty and that, therefore, develops and utilizes techniques for the careful collection, effective presenta
Term
 univariate data set
Definition
 a data set containing information on one variable only
Term
 variables
Definition
 characteristics possessed by elementary units
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