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31 Cards in this Set

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Frequency Distribution
A summary of a set of data that displays the number of observations in each of the distributions distinct categories or classes
Discrete Data
Data Whose possible values are countable
Relative Frequency
the proportion of total observations that are in a given category. Realitive frequency is computed by dividing the frequency in a category by the total number of observations
Continous Data
data whose possible values are uncountables and which may asume any value in an interval
Data Array
data that have been sorted in ascending or descending order
Mutually exclusive classes
classes that do not overlap so that a data value can be placed in only one class
All exclusive classes
a set of classes that contains all the possible data values
Equal Width Classes
the distance between the lowest possible value and the highest possible value in each class is equal for all classes
Class Width
the distance between the lowest possible value and the highest possible value for a frequency class
Minimum Class Width Equation
largest value - smallest value / # of classes
Class Boundaries
the upper and lower values of each class
Cumulative Freqeuncy Distribution
a summary of a set of data that displays the number of observations with values less than or equal to the upper limit of each of its classes
Cumalitive Relative Frequency Distribution
a summary of a set of data that displays the proportion of observations with values less than or equal to the upper limit of each of its classes
Frequency Histogram
a graph of a frequency distribution with the horizontal axis showing the classes, the vertical axis showing the frequency count. and 9 for equal class widths) the rectangles having a height equal to the frequency in each class
dependent variable
a variable whose values are thought to be a function of or dependent on the values of another variable called the independent variable
independet variable
variables whose values are thought to impact the dependent variable. it is grapehed on the x axis
business statistics
a collection of tools and techniques that are used to convert data into meanigful information
statistical infrence tools
tools that allow a decsion maker to reach a conclusion about a population of data based on a subset of data from the population
experimental design
a plan for performing an experiment in which the variable of intrest is defined.
demographic questions
questions relating to the respondents own chracteristics backgrounds and attributes
census
an enumeration of the entire set of measurments taken from a whole population
nonstatistical sampling techniqes
those methods of selecting samples using convience judgement or other nonchance processes
statistical sampling teechniques
those sampling methods that use selection techniques based on chance selection
Convience Sampling
s ampling techinique that selects the items from the population based on accessiblity and ease of selection
stratified random sampling
a statistical method in which the population is divided into subgroups called strata so that each population item belongs to only one stratum
Systematic Random Sampling
a statistical random sampling technique that involves the selecting every kth item in the poulation after a randomly selected starting point between 1 and k. the value of k is determined as the ratio of the population size over the desired sample size
cluster sampling
a method by which the population is divided into groups or clusters that are each intended to be mini populations.
quantitative data
measurements whose values are inherently numerical
qualitative data
data whose measurement scale is inherently catergorical
Time series data
a set of ordered data whose values observed at succesive points in time
cross sectional data
a set of data values observed at a fixed point in time