Home
Subjects
Create
Search
Log in
Sign up
Upgrade to remove ads
Only $2.99/month
Math
Statistics
Business Statistics Exam One Review
STUDY
Flashcards
Learn
Write
Spell
Test
PLAY
Match
Gravity
Terms in this set (12)
Statistics is the science of
collecting, organizing, summarizing, and interpreting data for the purpose of making decisions.
Discrete variables
"Listable" values with gaps between them.
Note: Not necessarily integers and may be an infinite number of values.
Continuous variables
Any value in an interval can occur.
Qualitative or categorical
Variable that classifies people or things.
Categorical
Nominal: Numbers used to "NAME" categories.
Ordinal: Categories have a natural ending.
Binary: Two categories (usually assigned values of "0" or "1").
Descriptive statistics
Numerical summaries and/or graphical displays of (sample) data.
Inferential Statistics
Using sample data to make conclusions about the population from which the sample was taken.
Statistical Inference
Drawing conclusions about the population (parameter) based on a sample (statistic).
Different samples could provide different results
Population is N
Sample is n
Measures of location
Give "middle" or "typical" values or "central tendency."
Measures of Variation
Describe "spread" or "scatter" or "dispersion" in the data.
The mean is not resistant to outliers.
IQR is most resistant to outliers
You might also like...
Cob 191 Exam 1
81 terms
SCM
84 terms
economics chapter 1 quiz
23 terms
Introduction to Statistics
58 terms
Other sets by this creator
Auditing Chapter 2 Terms
17 terms
Auditing Chapter 1 Questions
11 terms
Auditing Chapter 1 Terms
13 terms
Business Statistics Chapter Three
5 terms
Other Quizlet sets
Prepositions
23 terms
Micro Chapter 15 SI Review Sheet
32 terms
biology final
94 terms
rest of stuff for midterm 2 (ch 20)
47 terms