# Shared Flashcard Set

## Details

MGMT 301
Probability and Statistics 1
12
05/19/2009

Term
 statistics
Definition
 the study of how to COLLECT, ORGANIZE, SUMMARIZE, ANALYZE and DRAW CONCLUSIONS FROM data.
Term
 Purpose of Statistics
Definition
 pull meaning from data
Term
 Population
Definition
 entire collection of what is to be studied. ex PEOPLE, GPA, MOST POPULAR CAR COLOR
Term
 Process
Definition
 A set of conditions which come together to transform inputs into outputs (NOT TANGIBLE) ex. TIME DRIVE TO CLASS, HOW LONG IT TAKES TO CHECK OUT OF UKROPS, SHOOTING PERCENTAGE
Term
 Sample
Definition
 is a subset of a population or processex. Based on the decision to know all GPA's in the class. - A sample would be the woman in the classrooms GPA
Term
 Sampling Unit
Definition
 One member of the sample
Term
 Sampled Population or Process
Definition
 The members of the population/process available to be sampled
Term
 Parameter
Definition
 A characteristic of a population or processex. (mean, standard deviation, range, max, min)
Term
 Statistic
Definition
 A characteristic of a sampleex. (mean, standard deviation, range, max, min)
Term
 Statistical Variable
Definition
 What is to be measured or counted
Term
 Sampling Error
Definition
 Difference between a parameter and a statisticex. 3.07-2.93 = .14(the sampling error)
Term
 Operational Definition
Definition
 A precise description of how to do the measuring/counting.ex. for counting the amount of time it takes to get to school. -The (OD) would be whether you start your clock when you get out of the door, start the car, open your car?
Supporting users have an ad free experience!