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16 Cards in this Set
- Front
- Back
Data |
Is the plural of the latin datum (given fact) |
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Observation |
Is a single member of a collection of items that we want to study such as a person, firm, or region |
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Variable |
Is a characteristic of the subject or individual such as an employees income or an invoice amount |
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Data set |
Consists of all the values of all the variables for all of the observations we have chosen to observe |
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Univariate data sets |
One variable |
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Bivariate data sets |
Two variables |
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Multivariate data sets |
More than two variables |
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What are the two types of data? |
Categorical data and numerical data |
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Categorical data (qualitative data) |
Have values that are described by words rather than numbers |
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Coding |
This is when the values of the categorical variable might be represented using numbers |
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Binary variables |
When some categorical variables have only two values |
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Numerical data |
This kind of data arises from counting, measuring something, or some kind of mathematical operation. |
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Discrete |
A variable with a countable number of distinct values |
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Continuous |
A numerical variable that can have any value within an interval |
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Time series data |
If each observation in the sample represents a different equally spaced point in time, we have this. |
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Cross-sectional data |
If each observation represents a different individual unit at the same point in time we have this |