#### Study sets matching "business statistics"

#### Study sets matching "business statistics"

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…

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…

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…

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

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

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…

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…

A population is a collection of

Statistics are used to report

To infer something about a population we

There are 4 levels of measurement

All individuals, objects, or measurements of interest

The summary results of market surveys

Usually take a sample from the population

Nominal, Ordinal, Interval & Ratio

A population is a collection of

All individuals, objects, or measurements of interest

Statistics are used to report

The summary results of market surveys

alternative hypothesis

ANOVA test of difference of means

bar graph

between-group sum of squares (SSbg)

lists the range of values of the parameter for which Ho is rej…

used to test equality of means across populations; hypotheses…

graph of cross-sectional data with the unit on the horizontal…

in the ANOVA test of equal means the sum of squares due to tre…

alternative hypothesis

lists the range of values of the parameter for which Ho is rej…

ANOVA test of difference of means

used to test equality of means across populations; hypotheses…

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…

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…

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…

Business statistics

Biased sample

Cross-sectional data

Data

statistics applied to the business world to help improve peopl…

a sample that does not represent the intended population that…

data values that correspond to a specific time period

thee values assigned to specific observations or measurements

Business statistics

statistics applied to the business world to help improve peopl…

Biased sample

a sample that does not represent the intended population that…

Classical Statistics

Bayesian Statistics

Modern Statistics

Management Information Systems

A branch of mathematics dealing with the collection, analysis,…

A method of decision-making in the face of uncertainty.

A body of knowledge which integrates decision-making theory wi…

Integration of computer hardware, software and human knowledge…

Classical Statistics

A branch of mathematics dealing with the collection, analysis,…

Bayesian Statistics

A method of decision-making in the face of uncertainty.

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

Frequency distribution

Relative Frequency

Relative frequency distribution

Bar Chart

tabular summary of data showing the number of items in each of…

equals the fraction of items belonging to a class

tabular summary of data showing relative frequency for each cl…

graphical device for depicting categorical data summarized in…

Frequency distribution

tabular summary of data showing the number of items in each of…

Relative Frequency

equals the fraction of items belonging to a class

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…

Statistics

Individuals

Variable

Quantitative Variable

the study of how to collect, organize, analyze, and interpret…

the people or objects included in the study.

a characteristic of the individual to be measured or observed.

has a value or numerical measurement for which operations such…

Statistics

the study of how to collect, organize, analyze, and interpret…

Individuals

the people or objects included in the study.

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…

Probability

Experiment

Sample Point

Sample Space

numerical measure of the likelihood that an event will occur

a process that generates well-defined outcomes

an element of the sample space. A ______ _____ represents an e…

the set of all experimental outcomes

Probability

numerical measure of the likelihood that an event will occur

Experiment

a process that generates well-defined outcomes

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…

Inferential Statistics

Descriptive Statistics

A population

Sample

The type of statistics that utilizes sample data to make estim…

The type of statistics that utilizes numerical and graphics me…

A ______ is a set of units that we are interested in studying.

It's a subset of the units of a population.

Inferential Statistics

The type of statistics that utilizes sample data to make estim…

Descriptive Statistics

The type of statistics that utilizes numerical and graphics me…

Descriptive statistics

Inferential statistics

Sample statistics

Population parameters

Techniques that are used to summarize and describe numerical d…

Techniques by which decisions about a statistical population o…

Measured characteristics of a sample

The measured characteristics of a statistical population

Descriptive statistics

Techniques that are used to summarize and describe numerical d…

Inferential statistics

Techniques by which decisions about a statistical population o…