Statistics Midterm

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Statistic

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A descriptive measure of a sample
(A numerical measure describing a characteristic of a sample)

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Descriptive statistics

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Method of organizing, summarizing, and presenting data

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Population

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The group of all items of interest

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Statistical Inference

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The process of making an estimate, prediction, or decision about a population based on sample data

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Sample

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A set of data drawn from the population

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One form of statistics uses numerical techniques to summarize data. To obtain information on whether the data are closely clustered or widely scattered around the "typical" data value, a measure of ___________ is computed.

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variability

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Nominal Variable

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Categorical values

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Ordinal Variables

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Categorical values, but order has meaning

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Interval Variables

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Numerical Values. Difference between two values has meaning.

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Positively Skewed

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The tail of the graph extends farther to the right. Therefore, the relative frequency distribution of the values is positively skewed.

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Negatively Skewed

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The tail of the graph extends farther to the left. Therefore, the relative frequency distribution of the values is negatively skewed.

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Population Data

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Data collected from every item of interest

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Sample Data

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Those collected from only some of the items of interest

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Parameter

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Numerical measure describing a characteristic of a population

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A frequency distribution can be structured either as a table or as a graph, but in either case the distribution presents the same to elements...

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1. A record of the frequency (the number of individuals in each category).
2. The set of categories that make up the original measurement scale.

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Mode

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A measure of location, defined as the observation that occurs with greatest frequency

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Outlier

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An unusually small or large observation

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Range

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A measure of variability, defined as the largest observation minus the smallest observation

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Sample statistic

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A numerical value used as a summary measure for a sample

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Skewness

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A measure of the shape of a data distribution

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Median

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A measure of central location provided by the observation in the middle when the data are arranged in ascending order

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A measure of variability provided by the difference between the first and third quartiles

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Interquartile Range

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A measure of central location computed by summing the observations and dividing the sum by the number of observations.

(average)

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Mean

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Standard deviation

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Population Standard deviation s= square root of S squared

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Simple Event

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One specific outcome of a random experiment

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Random Experiment

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An action or process that results in one of several well-defined outcomes

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Event

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A collection of one or more outcomes of a random experiment

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Sample Space

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The collection of all outcomes of a random experiment

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The intersection of events A and B

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The event containing the simple events belonging to both events A and B

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Mutually Exclusive Events

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Events that have no simple events in common

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The union of events A and B

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The event containing all the simple events belonging to Event A, Event B, or both

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The complement of Event A

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The event that consists of all simple events that are not in Event A

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If two events A and B are mutually exclusive, then they are _________________

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not independent

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The National Road Freight Survey, operated by the European Union, divides commercial vehicles into three groups based on their weights 2-5 tons, 5-10 tons, and over 10 tons. A simple random sample is taken from each group and data are collected on each vehicle in the sample. Which sampling method is this?

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Stratified Random Sampling

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In a study of bank loans to small business, a random sample of banks is selected. For the banks in the sample, data are collected on every small business loan provided by that particular month. Which sampling method is this?

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Cluster Sampling

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A lawn firm surveys a sample of its customers on their satisfaction levels with the firm. Clients are numbered sequentially, and Excel is used to randomly select 100 numbers assigned to the clients. The sample is obtained by using the clients whose numbers correspond to the 100 randomly selected numbers. Which sampling method is this?

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Simple Random Sampling