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Marketing Essentials - Chapter 7
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Based on the 2009 text (the orange book).
Key Concepts:
Terms in this set (15)
digit
numbering system is composed of ten basic symbols
fractions
numbers used to describe or compare parts of a whole
numerator
represents the number of parts being considered
denominator
the bottom number that represents how many parts in a whole
mixed number
a whole number and fraction together
decimal number
another way to write a fraction or mixed number
percentage
the number of parts per 100
bar graph
a drawing made up of parallel bars whose lengths are proportional to the qualities being measured
line graph
a line that joins points representing changes in a variable quantity, usually over a specific period of time
circle graph
a geometric representation of the relative sizes of the parts of a whole
pie chart
a more common name for a circle graph
survey
to gather information by individual samples so as to learn about the whole thing
formula
a standard procedure for solving a class of mathematical problems
estimate
An approximation of a number, based on reasonable assumptions.
percent
"Out of 100" A percent is a special decimal fraction in which the denominator is 100. When we write 68%, we mean 68 out of 100. When we write the percent sign (%) after a number to indicate percent.
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