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30 Cards in this Set

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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)
Cross-Sectional 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
Z-score
Number of standard deviations is a particular element is away from the mean; anything with a Z-score 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