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72 Cards in this Set
- Front
- Back
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Symbol designated as the level of significance
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Alpha
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Statement that is accepted if the sample data provide evidence that null hypothesis is false.
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Alternate Hypothesis
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Symbol designated as the probability of committing another type of error
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Beta
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If all samples of a particular theorem are selected from a population, the sampling distribution of the sampling mean is approx. a normal distribution.
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Central Limit Theorem
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Proportion of values that lie within k standard deviations of the mean is at least 1 – 1/k^2, where k is any constant greater than 1.
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Chebyshev’s Theorem
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Measure of the strength of relationship between 2 variables.
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Coefficient of Correlation
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Proportion of the total variation in the dependent variable (Y) that is explained or accounted for by variation in the independent variable (X).
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Coefficient of Determination
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At least one event must occur when experiment is conducted.
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Collectively Exhaustive
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Probability of particular event occurring, given that another event has occurred.
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Conditional Probability
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Range of values within which the population parameter is expected to occur.
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Confidence Interval
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Group of statistical techniques to measure association between two variables.
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Correlation Analysis
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A matrix showing the coefficients of correlation between all pairs of variables.
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Correlation Matrix
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The dividing point between the region where the null hypothesis is rejected and the region where it was not rejected.
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Critical Value
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Variable being predicted or estimated
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Dependent Variable
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Methods of organizing, summarizing, and presenting data in an informative way.
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Descriptive Statistics
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Random variable that can assume only certain clearly separated values.
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Discrete Random Variable
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Variable in which there are only two possible outcomes.
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Dummy Variable
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For a symmetrical bell-shaped distribution, approximately 68% of observations will lie within plus and minus one SD of the mean; 95% will lie within plus or minus 2 SD of the mean; nearly all will lie within 3 SD of mean (99.7%).
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Empirical Rule
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Collection of one or more outcomes of an experiment.
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Event
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A set of categories where each individual or object must appear in some category.
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Exhaustive Categories
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Process that leads to the occurrence of one and only one of several possible observations.
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Experiment
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Population with a fixed number of bounds.
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Finite Population
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Grouping of data into mutually exclusive categories showing the number of observations in each class.
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Frequency Distribution
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Graph in which the class midpoints or limits are marked on the horizontal axis and the class frequencies on the vertical axis.
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Histogram
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A statement about a population developed for the purpose of testing.
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Hypothesis
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A procedure based on sample evidence and probability theory to determine whether the hypothesis is a reasonable statement.
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Hypothesis Testing
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The occurrence of one event that has no effect on the probability of the occurrence of another event.
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Independent Events
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A variable that provides the basis for estimation. It is the predictor variable.
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Independent Variable
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Methods used to determine something about a population on the basis of a sample.
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Inferential Statistics
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A probability that measures the likelihood two or more events will happen concurrently.
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Joint Probability
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Determining a regression equation by minimizing the sum of the squares of the vertical distances between the actual Y values and the predicted values of Y.
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Least Squares Principle
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The probability of rejecting the null hypothesis when it is true.
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Level of Significance
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Sum of all values divided by the number of values.
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Mean
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Arithmetic mean of the absolute values of the deviations from the arithmetic mean.
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Mean Deviation
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Midpoint of values after they have been ordered from smallest to largest.
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Median
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The value of data that appears the most frequently.
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Mode
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Correlation among the independent variables.
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Multicollinearity
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Total number of arrangements = (m)(n).
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Multiplication Formula
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The occurrence of one event means that none of other events can occur at the same time.
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Mutually Exclusive
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A statement about the value of a population parameter.
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Null Hypothesis
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A particular result of an experiment.
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Outcome
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Measurable characteristic of a population
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Parameter
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Applied to find the possible number of arrangements when there is only one group of objects.
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Permutation
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The statistic, computed from sample information, which is used to estimate the population parameter.
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Point Estimate
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Collection of all possible individuals, objects, or measurements of interest.
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Population
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A value between zero and one, inclusive, describing the relative possibility (chance or likelihood) an event will occur.
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Probability
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A listing of all the outcomes of an experiment and the probability associated with each outcome.
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Probability Distribution
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The fraction, ratio, or percent indicating the part of the sample or the population having a particular trait of interest.
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Proportion
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The probability of observing a sample value as extreme as, or more extreme than, the value observed, given that the null hypothesis is true.
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p-Value
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A quantity resulting from an experiment that, by chance, can assume different values.
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Random Variable
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The sum of the squared differences between each observation and its treatment mean.
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Random Variation
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(largest value – smallest value)
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Range
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An equation that expresses the linear relationship between two variables.
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Regression Equation
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A portion of the population of interest.
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Sample
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A probability distribution of all possible sample means of a given sample size.
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Sampling Distribution of Sample Mean
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The difference between a sample statistic and its corresponding population parameter.
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Sampling Error
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Graphical technique use to show relationships between variables.
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Scatter Diagram
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A sample selected so that each item or person in the population has the same chance of being selected.
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Simple Random Sample
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The square root of the variance.
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Standard Deviation
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A measurement of the scatter, or dispersion, of the observed values around the line of regression.
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Standard Error of Estimate
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Measurable characteristic of a sample.
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Statistic
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The science of collecting, organizing, presenting, analyzing, and interpreting numerical data to assist in making more effective decisions.
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Statistics
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A population is divided into subgroups and a sample is randomly selected from each group.
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Stratified Random Sample
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The likelihood (probability) of a particular event happening that is assigned by an individual based on whatever information is available.
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Subjective Probability
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A random starting point is selected, and then every kth member of the population is selected.
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Systematic Random Sample
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A value, determined from sample information, used to determine whether to reject the null hypothesis.
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Test Statistic
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The sum of the squared differences between each observation and the overall mean.
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Total Variation
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The sum of the squared differences between each treatment mean and the grand or overall mean.
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Treatment Variation
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Rejecting the null hypothesis, Ho, when it is true.
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Type I error
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Accepting the null hypothesis when it is false
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Type II error
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Arithmetic mean of the squared deviations from the mean
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Variance
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The signed distance between a selected value, designated X, and the mean, u, divided by the standard deviation.
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Z value
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