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30 Cards in this Set
 Front
 Back
Nominal Scale

The scale of measurement for a variable when the dat use labels or names to identify an attirbute of an element. Nominal dad may be nonnumeric or numeric. "categories, names"
***qualitative*** 

Ordinal Scale

A nominal scale in which order or rank is meaningful. "categories, names" ***qualitative***


Interval Scale

A scale in which all the data is numeric and there is NO TRUE ZERO! ***Quanitative***


Ratio Scale

A scale in which all data is numeric and the ratio of two values is meaningful. Has a true zero. ***Quanitative***


Qualitative Data

Includes Nominal and Ordinal Scales in which labels or names are used to identify an attribute of each element


Quantitative Data

Numeric Values that indicate how much or how many of something. (interval and ratio scales)


CrossSectional Data

Data collected at the same or approximately the same point in time.


Time Series Data

Data collected over several time periods


Population Vs. Sample

Sample is a subset of the population


Relative Frequency

The percentage a certain element is of the entire sample.


Histogram

A bar chart used for quantitative data in which there is no space between the bars (frequency, relative frequency, and percent frequency)


Cumlative Frequency

The total frequency of anything in that range or lower


Ogive

A line graph for a cumulative frequency (relative and percent included)  always increasing


Measures of Location

Includes numerical values for mean median and mode


1st, 2nd, and 3rd Quartiles

25th, 50th (median), and 75th percentiles


Variance

measure of variability that utilizes all the data; a larger variance shows a larger variablity


Standard Deviation

The square root of the variance, shows varability


Coefficient of Variation

helps you compare the variability of variables that have different standard deviations and different means  a percentage of what the standard deviation is of the mean


Skewness

Skewness talks about the tail  to the left = negative, to the right = positive


Left Skewed (negative)

mean is less than median


Right Skewed (positive)

mean is greater than median


Symmetric Distribution

Mean = Median


Zscore

Number of standard deviations is a particular element is away from the mean; anything with a Zscore of +3 is considered an outlier (bell shaped distributions)


Five Number Summary

Min, Q1, Q2(median), Q3, Max


Covariance

Tries to predict the correlation between two variables. If its postive, its positively related and vice versa. If its zero, there is no relation ***larger covariance doesnt mean more correlated***


Correlation Coefficient

1 = perfect positive linear relationship
0 = no relationship 1 = perfect negative linear relationship 

Conditional Probability

When a given event has already occured, the original event's proability changes on that condition


Joint Probability

A probability that is the intersection of two events Example: Proability they got promoted and they are a man etc...


Marginal Probabilities

Found in the margins of the joint probability table, just a single variable


Independent Events

Events are independent if a given event has no affect on the original event
