Business Statistics Test 1
About this set
Created by:
ktisallred on March 9, 2011
Subjects:
statistics, math, business, cis
Description:
Elementary Statistics Chapter 1-3
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39 terms
Terms | Definitions |
|---|---|
 data | consists of information that comes from observations, counts, measurements, or responses |
| statistics | how do we organize, analyze, interpret data in order to make decisions |
| population | the collection of all outcomes, responses, measurements, or counts that are of interest |
| sample | subset of a population |
| parameter | numerical description of the population |
| statistic | numerical description of the sample |
| descriptive statistics | involves the organization, summarization, and display of data |
| inferential statistics | involves using a sample to draw conclusions about a population. A basic tool is probability. Making a decision on stats. |
| qualitative data | attributes, labels, NON-NUMERICAL entries. (Things which can't be counted like a zip code, social security #, etc would be this) |
| quantitative data | numerical measurements, or counts; things that can actually be counted |
| levels of measurement | how we look at data side by side |
| nominal level of measurement | qualitative only (names, labels) |
| ordinal level of measurement | qualitative or quantitative; order, can be ranked, but the differences between the data entries are meaningless |
| interval level of measurement | can be ordered; MEANINGFUL differences between data; Zero (0) entry is simply a position on scale, or a placeholder |
| ratio level measurement | Like interval, but zero (0) means 0 (inherit zero). A ratio of two data values can be formed so that one data value can be meaningfully expressed as a multiple of another |
| Inherit Zero | None; absolutely nothing |
| Design a Stat Study: 1st step | Identify the variables of interest |
| Design a Stat Study: 2nd step | Develop a plan |
| Design a Stat Study: 3rd step | Collect data |
| Design a Stat Study: 4th step | Describe the data |
| Design a Stat Study: 5th step | Interpret the data (inferential) |
| Design a Stat Study: 6th step | Identify any possible errors |
| observational study | researcher observes and measures characteristics of interest of part of a population, but does not change existing conditions |
| experiment | a treatment is applied to part of a population and responses are observed |
| treatment | what is applied to part of a population, during an experiment |
| control group | no treatment is applied, during experiment |
| placebo | harmless, unmediated treatment, that is made to look like the real treatment |
| simulation | use of a mathematical or physical model to reproduce the conditions of a situation or process |
| survey | an investigation of one or more characteristics of a population |
| Three Key Elements of a Well Designed Experiment | control, randomization, and replication |
| confounding variable | occurs when an experimenter cannot tell the difference between the effects of different factors on a variable |
| hawthorne effect | occurs in an experiment when subjects change their behavior simply because they know they are participation in an experiment |
| placebo effect | occurs when a subject reacts favorably to a placebo, when they have been given no medicated treatment at all |
| blinding | technique where the subject does not know whether he or she is receiving a treatment or a placebo |
| double-blind experiment | neither the subject nor the experimenter knows if the subject is receiving a treatment or a placebo |
| blocks | groups of subjects with similar characteristics |
| randomized block design | divide subjects with similar characteristics into blocks, and then within each block, randomly assign subjects to treatment groups |
| matched-pairs design | subjects are paired up according to a similarity |
| replication | the repetition of an experiment using a large group of subjects |
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