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Statistics for ___
Ex. Studying Highway Safety
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Statistics for ___
Ex. Weather Forecasts |
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Statistics in ___
Ex. Economics, Politics, Sports |
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| A branch of mathematics that transforms numbers into useful information for decision makers. |
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| Measures used to describe the population are called ____ |
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| Measures computed from sample data are called ____ |
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| A __ consists of all the items or individuals about which you want to draw a conclusion. |
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| A __ is the portion of a population selected for analysis. |
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| A statistic is a numerical measure that describes a characteristic of a __. |
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| A parameter is a numerical measure that describes a characteristic of a __. |
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| ____ - The methods that help collect, summarize, present, and analyze data (tables & charts) |
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| ___ - The methods that use data collected from a small group to draw conclusions about a larger group. |
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Four Important Uses of Statistics in Business
1. ________
2. ________
3. ________
4. ________ |
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Definition
1. To visualize and summarize business data
2. To draw conclusions from business data
3. To make reliable forecasts about business activities
4. To improve business processes |
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| __ - A characteristic of an item or individual. |
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| __ - the different values asociated with a variable. |
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| Data values are meaningless unless their variables have ___, universally accepted meanings that are clear to all associated with an analysis. |
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| __ - a statistical package designed to perform advanced statistical analyses |
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| ___ - a multi-functional data analysis tool that can perform many functions, but non as well as programs that are dedicated to a single function. |
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| Both SPSS and Microsoft Excel use ___ to store data. |
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DCOVA:
D: ___
C: ___
O: ___
V: ___
A: ___ |
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Define
Collect
Organize
Visualize
Analyze |
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| In DCOVA, you ___ the variables for which you want to reach conclusions. |
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| In DCOVA, you ___ the data from appropriate sources |
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| In DCOVA, you ___ the data collected by developing tables. |
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| In DCOVA, you ___ the data by developing charts. |
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| In DCOVA, you ___ the data by examining the appropriate tables and charts to reach conclusions. |
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| __ (__) variables have values that present qualities or attributes. |
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| Categorical (qualitative) |
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__ (__) variables have values that represent quantities.
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| __ variables can only be places into categories such as "yes" or "no" |
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Nominal
Ex. Marital Status, Gender, Yes/No |
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__ variables indicate meaningful ordering or distances.
Ex. XS, S, M, L, XL
A, A-, B, B-, C
Fr, So, Jr, Sr |
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| __ variables arise from a counting process. |
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Discrete
Ex. Number of Books, Number of Text Messages |
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| __ variables arise from a measuring process. |
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Continuous
Ex. Waiting Time, Weight |
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| __ sources - The data is collected by the researcher directly from his/her own observations and experiences. |
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Primary
Ex. Data from a political survey, data collected from an experiment, observed data |
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| __ Sources - The data is originally collected elsewhere rather than by the researcher her/himself. |
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Secondary
Ex. Analyzing census data, Examining data from print journals or data published on the internet |
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Sources of data fall into four categories:
1. ___
2. ___
3. ___
4. ___ |
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Definition
1. Distributed by an organization or individual
2. A designed experiment
3. A survey
4. An observational study |
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| ____ - a table indicating the frequency, amount, or percentage of items in a set of categories so you can see differences between categories. |
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| ___ - a sequence of data, in rank order, from the smallest value to the largest value. It shows the range and may help identify outliers. |
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| ____ - a summary table in which the data are arranged into numerically ordered classes. |
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Why use a frequency distribution?
1. It __ the raw data into a _____
2. It __ for a _____ of the data
3. It ___ the ___ of the ______ or the data set including where the data are ______ |
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Definition
1. It condenses the raw data into a more useful form
2. It allows for a quick visual representation of the data
3. It enables the determination of the major characteristics of the data set including where the data are concentrated/clustered. |
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| Different _____ may provide different pictures for the same data. |
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| ___ in __ __ may show up when different class boundaries are chosen. |
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| Shifts in Data Concentration |
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| As the size of the data set ___, the impact of alterations in the selection of class boundaries is greatly reduced. |
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| When comparing two or more groups with different sample sizes, you must use either a __ __ or a __ __. |
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Definition
| Relative Frequency or a Percentage Distribution |
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Visualizing Categorical Data: Charts
__ Chart - directly compare data
__ Chart - how data fits into the whole
__ Chart - used when most of the data occurs in just a few categories
__ Chart - Used when comparing two different categorical variables |
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Definition
Bar Chart
Pie Chart
Pareto Chart
Side by side Chart |
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| ___ - a chart where each bar represents a category, the length of which indicates the amount, frequency, or percentage of values falling into a category coming from the summary table of the variable. |
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| ___ - A circle broken up into slices that represent categories. The size of each slice varies according to the percentage in each category. |
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| __ - a vertical bar chart used to portray categorical data where categories are shown in descending order of frequency, and a cumulative polygon is shown in the same graph. Used to separate the "vital few" from the "trivial many" |
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| ___ - organizes data into groups (called __) so that the values within each group (called __) branch out to the right on each row. |
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Stem-and-Leaf Display
Stems
Leaves |
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| __ - A vertical bar chart of the data in a frequency distribution in which there are no gaps between adjacent bars. |
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| In a histogram, the ___ (or ___) are shown on the horizontal axis. The vertical axis is either __, __, or __. |
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Class Boundaries (or Class Midpoints)
Frequency, Relative frequency, or Percentage
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| ___ - formed by having a midpoint of each class represent the data in that class, and then connecting the sequence of midpoints at their respective class percentages. |
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| The _____, or __, displays the variable of interest along the X axis, and the cumulative percentages along the Y axis. |
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| Cumulative Percentage Polygon (or Ogive) |
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| ___ - used to study patterns in the values of a numeric variable over time. |
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Principles of Excellent Graphs
1. The graph should not __ the data.
2. The graph should not contain unnecessary ___
3. The scale on the vertical axis should ___
4. All axes should be ___
5. The graph should contain a __
6. The ___ should be used for a given set of data. |
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Definition
1. distort
2. adornments
3. begin at zero
4. properly labeled
5. title
6. simplest possible graph |
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| ___ - the extent to which all the data values group around a typical or central value. |
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| __ - the amount of dispersion or scattering of values |
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| __ - the pattern of the distribution of values from the lowest value to the highest value |
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| __ - the most common measure of central tendency, is the sum of all values divided by the number of values. It is affected by extreme values (outliers) |
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| In an ordered array, the __ is the "middle" number. It is not affected by extreme values (outliers) |
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| __ - the value that occurs most often. It is not affected by extreme values (outliers). Used for either numerical or categorical (nominal) data. |
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| ___ - the simplest measure of variation. Equal to the difference between the largest and smallest values. |
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| __ - the average (approximately) of squared deviations of values from the mean. |
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| ____ - most commonly used measure of variation. Shows variation about the mean, is the square root of the variance, and has the same units as the original data. |
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Definition
| Sample Standard Deviation |
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| To compute the ___ of a data value, subtract the mean and divide by the standard deviation. |
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| A data value is considered an extreme ___ if its z-score is less than -3.0 or greater than +3.0 (far away from the mean) |
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__ - the number of standard deviations a data value is from the mean.
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| The larger the absolute value of the Z-Score, the farther away the data value is from the __. |
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| ___ - measures the amount of asymmetry in a distribution. |
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___ - Measures the spread of the middle 50% of the data.
= Q3 - Q1
(Also called the ___)
It is not influenced by outliers or extreme values. |
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IQR (Interquartile Range)
Midspread |
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| Measures like the median, Q1, Q3, and IQR that are not influenced by outliers are called ____ |
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Term
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Definition
1. Xsmallest
2. First Quartile (Q1)
3. Median (Q2)
4. Third Quartile (Q3)
5. Xlargest |
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| ___ - A Graphical display of the data based on the five-number summary. |
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| ___ - the sum of the values in the population divided by the population size, N |
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| ___ - Average of the squared deviations of values from the mean. |
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| __ - The most commonly used measure of variation. Shows variation about the mean, and is the square root of the population variance. Has the same units as the original data. |
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Definition
Population Standard Deviation
σ |
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Term
| When comparing two or more large batches of numerical data, the distributions being developed should use the same ________. |
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Definition
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Term
| The point halfway between the boundaries of each class interval in a grouped frequency distribution is called the ________. |
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Definition
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| In order to compare one large batch of numerical data to another, a ________ distribution must be developed from the frequency distribution. |
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Definition
| relative frequency or percentage |
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