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Statistics for Managers
Study cards for mid-term exam
31
Mathematics
Undergraduate 3
10/07/2009

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Cards

Term
Descriptive Statistics
Definition
Used to organize and describe the characteristics of a particular data set

Collecting, organizing, and describing data
Example: the average age of everyone in this class!
Term
Inferential Statistics
Definition
Inferential statistics
Used to make inferences from your sample to the population
Term
Quantitative Variables
Definition
A quantitative variable measures outcomes that are expressed numerically.
Term
Qualitative Variable
Definition
A qualitative variable consists of outcomes that, without modification, are not expressed numerically.
Term
Categorical Variables
Definition
Yield categorical responses

red/yellow, Yes/No, high/med/low
Term
Numerical Variables
Definition
Produce numerical responses
Term
Discrete Variables
Definition
arise from a counting process one, two, three...
Term
Continuous Variables
Definition
arise from a measuring process: height, weight, temperature, etc.
Term
Nominal Scale
Definition
Data is measured and classified into one of a number of discrete categories.

color, political party, gender, etc...
Term
Ordinal Scale
Definition
implies order. military rank, clothing size, etc.

consistent in direction but not magnitude
Term
Interval Scale
Definition
Differences in values have meaning.

Temperature - Fahrenheit, Celsius
Term
Ratio Scale
Definition
differences are meaningful and relate to some true zero point.

Ex: Temperature, weight, height, age,

This is the most common scale of measurement
Term
Measures of Central Tendency
Definition
Mean, Median, Mode
Term
Mode
Definition
Value that occurs with greatest freqency
Term
What percentage of scores fall within 1 Standard Deviation of the mean?
Definition
68%
Term
What percentage of scores fall within two standard deviations of the mean?
Definition
95%
Term
If you get the square root of the standard deviation, what do you have?
Definition
The variance
Term

 

 

[image]


Definition

(X-Bar)

 

Sample Mean

Term

 

 

[image]

Definition

 

 

Population Mean

Term
Histogram
Definition
a type of graph in which the x-axis lists categories or values for a data set, and the y-axis shows a count of the number of cases falling into each category
Term
What is the range of correlation coefficients?
Definition
-1 to 1
Term
Class Interval
Definition
range of values contained in a given category of a frequency distribution
Term
Class Mark
Definition
Midpoint between lower and upper class limits of a category in a frequency distribution
Term
Collectively exhaustive
Definition
distribution accommmodates all observations
Term
Mutually Exclusive
Definition
each observation is assigned to only one category.
Term
Frequency Polygon
Definition
A continuous line that represents the frequencies of scores within a class interval
Term
If the curve of a polygon has a tail on the left, how is it skewed?
Definition
Negatively
Term
If a the curve of a polygon has a tail on the right, how is it skewed?
Definition
Positively
Term
Where is the mean located on a polygon?
Definition
Closest to the tail
Term
Non-directional Research Hypothesis
Definition
reflects a difference between groups, but the direction of the difference is not specified
Term
what percentage of scores fall within 3 standard deviations?
Definition
99%
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