# Study sets matching "business statistics"

Data Analysis

Decision Making

Iconic model

Analog model

is the science of collecting, organizing, analyzing, interpret…

is the process of defining the problem, identifying the altern…

is a physical replica or representation of a real object. ... Ex:…

while physical in form, does not have a physical appearance si…

Data Analysis

is the science of collecting, organizing, analyzing, interpret…

Decision Making

is the process of defining the problem, identifying the altern…

Statistics

Data

Data set

Elements

numerical facts such as averages, medians, percents, and index…

facts and figures collected, analyzed, and summarized for pres…

all the data collected in a particular study

entities on which data are collected

Statistics

numerical facts such as averages, medians, percents, and index…

Data

facts and figures collected, analyzed, and summarized for pres…

Population

Cencus

Sample

Sample size

All elements, individuals, or units that meet the selection cr…

Statistics: Survey of an entire population, as opposed to a sa…

Limited number of observations selected from a population on a…

the number of observations in a sample

Population

All elements, individuals, or units that meet the selection cr…

Cencus

Statistics: Survey of an entire population, as opposed to a sa…

Data Analysis

Decision Making

Iconic model

Analog model

is the science of collecting, organizing, analyzing, interpret…

is the process of defining the problem, identifying the altern…

is a physical replica or representation of a real object. ... Ex:…

while physical in form, does not have a physical appearance si…

Data Analysis

is the science of collecting, organizing, analyzing, interpret…

Decision Making

is the process of defining the problem, identifying the altern…

What is Statistics?

What are the two types of statistics?

What is descriptive statistics?

What is inferential statistics?

Statistics is the science of collecting, organizing, presentin…

Descriptive and Inferential

Procedures used to organize and summarize data

Stats involed by taking a sample from a population and making…

What is Statistics?

Statistics is the science of collecting, organizing, presentin…

What are the two types of statistics?

Descriptive and Inferential

Statistics

Branches of Statistics

Descriptive Statistics

Inferential Statistics

A way to squeeze out & use information from raw data to make i…

1. Descriptive Statisitcs ... 2. Inferential Statistics

Organising, summarising and presenting data

Making Conclusions based on a population based on a sample

Statistics

A way to squeeze out & use information from raw data to make i…

Branches of Statistics

1. Descriptive Statisitcs ... 2. Inferential Statistics

point estimate

confidence interval

precision

accuracy

A single number such as the sample mean or the sample proporti…

What provides additional information about the variability of…

When asking how close - or how exact is the interval that is b…

When asking how confident do you want to be in estimating the…

point estimate

A single number such as the sample mean or the sample proporti…

confidence interval

What provides additional information about the variability of…

Statistics

population

census

sample

- science of gathering, analyzing, interpreting, and presentin…

a collection of persons, objects, or items under study

gathering data from the entire population

a portion of the whole ... [a subset of the poplulation]

Statistics

- science of gathering, analyzing, interpreting, and presentin…

population

a collection of persons, objects, or items under study

statistics

individual

variable

population

the study of methods to collect, organize, analyze and interpr…

any person or object of interest

the characteristic of interest

the entire collection of individuals

statistics

the study of methods to collect, organize, analyze and interpr…

individual

any person or object of interest

nominal

ordinal

interval

ratio

Arbitrary labels for data.... No ranking allowed

Ranking allowed, no measurable meaning in the number levels su…

meaningful differences. no true zero pt. calendar yr

meaningful differences. true zero pt such as income.

nominal

Arbitrary labels for data.... No ranking allowed

ordinal

Ranking allowed, no measurable meaning in the number levels su…

What two basic areas can statistics be…

Descriptive Statistics

Measure of Central Location

Measure of Variability

Descriptive Statistics and Inferential Statistics

Deals with methods of organizing, summarizing and presenting d…

'Typical' piece of data. A.k.a. median

Variability can be defined in terms of how close the scores in…

What two basic areas can statistics be…

Descriptive Statistics and Inferential Statistics

Descriptive Statistics

Deals with methods of organizing, summarizing and presenting d…

Essential Elements of Discovery

management science

2 ways of achieving this "coming togeth…

Statistics

A critical event & a perceptive observer.... The 2 coming togeth…

the use of the scientific method to answer questions of concer…

1) make sure the naturally occurring informative events are br…

The science & art of obtaining AND analyzing data, & convertin…

Essential Elements of Discovery

A critical event & a perceptive observer.... The 2 coming togeth…

management science

the use of the scientific method to answer questions of concer…

Statistics

Business statistics

In this course, the term business stati…

Descriptive statistics allow a decision…

Helps us make sense of numbers. It is a way to get information…

Is a process of collecting, organizing, analyzing, and convert…

FALSE

FALSE

Statistics

Helps us make sense of numbers. It is a way to get information…

Business statistics

Is a process of collecting, organizing, analyzing, and convert…

A sample must be

Statistics

Types of data

cross sectional

random and representative

the science of collecting, organizing, analyzing, interpreting…

cross-sectional, time series

values of a characteristic of many subjects at the same point…

A sample must be

random and representative

Statistics

the science of collecting, organizing, analyzing, interpreting…

Statistics

descriptive statistics

Inferential statistics

Population

the science of collecting, organizing, presenting, analyzing a…

methods for organizing summarizing and presenting data in an i…

methods used to determine something about a population on the…

the entire set of objects or individuals of interest

Statistics

the science of collecting, organizing, presenting, analyzing a…

descriptive statistics

methods for organizing summarizing and presenting data in an i…

Population Mean

Sample proportion

P value

Null Hypothesis

The mean of the entire population ... mu , ... μ... (Mew) The balance…

p^ (p-hat)... proportion of individuals of a given type in a samp…

The probability level which forms basis for deciding if result…

(H0)... A statement or idea that can be falsified, or proved wron…

Population Mean

The mean of the entire population ... mu , ... μ... (Mew) The balance…

Sample proportion

p^ (p-hat)... proportion of individuals of a given type in a samp…

Measures of Center and Location

Parameter

As long as the population does not chan…

Statistic

Mean, Median, Mode, Weighted Mean

A measure computed from the entire population

The value of the parameter will not change

A measure computed from a sample that has been selected from a…

Measures of Center and Location

Mean, Median, Mode, Weighted Mean

Parameter

A measure computed from the entire population

Statisics

Descriptive Statistics

Inferential Statistics

Population

The science of collecting, organizing, and interpreting data t…

Methods of organizing, summarizing, and presenting data in an…

A decision, estimate, prediction, or generalization about a po…

The entire set of individuals or objects of interest, or the m…

Statisics

The science of collecting, organizing, and interpreting data t…

Descriptive Statistics

Methods of organizing, summarizing, and presenting data in an…

Measuring size sales

Measuring size assets

Measuring size market value

Measuring size profits

- high sales may be misleading due to pass-through production…

rarely bought and sold so depreciation after purchase must be…

-stock market assessment value ... - volatile measurment ... -approp…

appropriate for researching likely success of firm

Measuring size sales

- high sales may be misleading due to pass-through production…

Measuring size assets

rarely bought and sold so depreciation after purchase must be…

Business Statistics

Data

Information

Qualitative

Statistics applied to the business world in an effort to impro…

Values assigned to observations or measurements

Data that are transformed into useful facts that can be used f…

Nominal, Ordinal

Business Statistics

Statistics applied to the business world in an effort to impro…

Data

Values assigned to observations or measurements

Statistics

Data

Data set

Elements

The art and science of collecting, analyzing, presenting, and…

The facts and figure collected, analyzed, and summarized for p…

all the data collected in a particular study

The entities on which data are collected

Statistics

The art and science of collecting, analyzing, presenting, and…

Data

The facts and figure collected, analyzed, and summarized for p…

statistics

Accounting

economics

finance

numerical facts such as averages, medians, percentages, and ma…

public accounting firms use statistical sampling procedures wh…

use statistical information in making forecasts about the futu…

financial advising uses price earnings ratios and dividend yie…

statistics

numerical facts such as averages, medians, percentages, and ma…

Accounting

public accounting firms use statistical sampling procedures wh…