# Study sets matching "final exam business essentials statistics"

Study sets

Diagrams

Classes

Users

Random Variable

Discrete random variable

Continuous Random variable

Probability distribution

A numerical description of the outcome of an experiment.

A random variable that may assume either a finite number of va…

A random variable that may assume any numerical value in an in…

a description of how the probabilities are distributed over th…

Random Variable

A numerical description of the outcome of an experiment.

Discrete random variable

A random variable that may assume either a finite number of va…

The measure of location which is the mo…

The most important statistical descript…

If two groups of numbers have the same…

The mean of the sample... a. is always sm…

d. mean

a. mean

d. None of these alternatives is correct.

d. None of these alternatives is correct.

The measure of location which is the mo…

d. mean

The most important statistical descript…

a. mean

probability

experiment

sample space

sample point

a numerical measure of the likelihood that an event will occur

a process that generates well-defined outcomes

the set of all experimental outcomes

an element of the sample space. a sample point represents an e…

probability

a numerical measure of the likelihood that an event will occur

experiment

a process that generates well-defined outcomes

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Sampled population

Frame

Parameter

Simple random sample

The population from which the sample is taken.

A listing of the elements the sample will be selected from.

A numerical characteristic of a population, such as population…

A simple random sample of size n from a finite population of s…

Sampled population

The population from which the sample is taken.

Frame

A listing of the elements the sample will be selected from.

Probability Density Function

Uniform Probability Distribution

Normal Probability Distribution

Standard Normal Probability Distribution

a function used to compute probabilities for a continuous rand…

a continuous probability distribution for which the probabilit…

a continuous probability distribution. Its probability density…

A normal distribution with a mean of zero and a standard devia…

Probability Density Function

a function used to compute probabilities for a continuous rand…

Uniform Probability Distribution

a continuous probability distribution for which the probabilit…

Data

Variable

Observation

Variation

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

A characteristic of quantity of interest that can take on diff…

A set of values corresponding to a set of variables

Differences in values of a variable over observations

Data

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

Variable

A characteristic of quantity of interest that can take on diff…

Wants

Needs

Goods

Services

are things that you do not have to have to survive.

are things that you must have in order to survive.

are physical products.

are tasks that businesses perform for consumers.

Wants

are things that you do not have to have to survive.

Needs

are things that you must have in order to survive.

A frequency distribution is a tabular s…

A tabular summary of a set of data show…

The relative frequency of a class is co…

The percent frequency of a class is com…

d. number of items in several classes

b. relative frequency distribution

d. dividing the frequency of the class by the sample size

c. multiplying the relative frequency by 100

A frequency distribution is a tabular s…

d. number of items in several classes

A tabular summary of a set of data show…

b. relative frequency distribution

In a questionnaire, respondents are ask…

The nominal scale of measurement has th…

The scale of measurement that is used t…

Some hotels ask their guests to rate th…

b. nominal scale

d. None of these alternatives is correct.

b. ordinal scale

a. ordinal scale

In a questionnaire, respondents are ask…

b. nominal scale

The nominal scale of measurement has th…

d. None of these alternatives is correct.

The population proportion is an example…

In a probability sample each item in th…

In a simple random sample each item in…

The sampling error is

population parameter

a chance of being selected

the same chance of being selected; drawing a name out of a hat

the difference between a sample statistic and a population par…

The population proportion is an example…

population parameter

In a probability sample each item in th…

a chance of being selected

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…

Sampled population

Frame

Parameter

Simple random sample

The population from which the sample is taken.

A listing of the elements the sample will be selected from.

A numerical characteristic of a population, such as population…

A simple random sample of size n from a finite population of s…

Sampled population

The population from which the sample is taken.

Frame

A listing of the elements the sample will be selected from.

The measure of location which is the mo…

The most important statistical descript…

If two groups of numbers have the same…

The mean of the sample... a. is always sm…

d. mean

a. mean

d. None of these alternatives is correct.

d. None of these alternatives is correct.

The measure of location which is the mo…

d. mean

The most important statistical descript…

a. mean

Methods for developing useful decision-…

The process of capturing, storing, and…

The subject of data mining deals with…

In a questionnaire, respondents are ask…

d. data mining

c. data warehousing

a. methods for developing useful decision-making information f…

b. nominal scale

Methods for developing useful decision-…

d. data mining

The process of capturing, storing, and…

c. data warehousing

The measure of location which is the mo…

The most important statistical descript…

If two groups of numbers have the same…

The mean of the sample... a. is always sm…

d. mean

a. mean

d. None of these alternatives is correct.

d. None of these alternatives is correct.

The measure of location which is the mo…

d. mean

The most important statistical descript…

a. mean

Methods for developing useful decision-…

The process of capturing, storing, and…

The subject of data mining deals with…

In a questionnaire, respondents are ask…

d. data mining

c. data warehousing

a. methods for developing useful decision-making information f…

b. nominal scale

Methods for developing useful decision-…

d. data mining

The process of capturing, storing, and…

c. data warehousing

Needs

Wants

Goods

Services

Things that are required in order to live.

Things that add comfort and pleasure to your life.

Things that you can see and touch.

Activities that are consumed at the same time they are produce…

Needs

Things that are required in order to live.

Wants

Things that add comfort and pleasure to your life.

Basic economic problem

Capital resources

Capitalism

Command economy

the mismatch of unlimited wants and needs and limited economic…

products and money used to produce goods and services.

the private ownership of economic resources by individuals rat…

an economy in which resources are owned and controlled by the…

Basic economic problem

the mismatch of unlimited wants and needs and limited economic…

Capital resources

products and money used to produce goods and services.

accounting

accounting system

accounting records

financial statements

planning, recording, analyzing, and interpreting financial inf…

a planned process for providing financial information that wil…

organized summaries of a business's financial activities

financial reports that summarize the financial condition and o…

accounting

planning, recording, analyzing, and interpreting financial inf…

accounting system

a planned process for providing financial information that wil…

The measure of location which is the mo…

The most important statistical descript…

If two groups of numbers have the same…

The mean of the sample... a. is always sm…

d. mean

a. mean

d. None of these alternatives is correct.

d. None of these alternatives is correct.

The measure of location which is the mo…

d. mean

The most important statistical descript…

a. mean

Allowance

Annuity

Balance sheet

Budget

the amount of money you plan to use for a certain budget categ…

an amount of money an insurance company pays (usually monthly)…

a report that lists a company's assets, liabilities, and owner…

detailed plans for the financial needs of individuals, familie…

Allowance

the amount of money you plan to use for a certain budget categ…

Annuity

an amount of money an insurance company pays (usually monthly)…

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Time Series

Cross Sectional

Qualitative (Categorical)

Quantitative (Numerical)

Over time i.e; month/year/minute (10 Year Period)

Single point in time (1 Year/1 month)

Characteristic is nonnumerical

How much/how many, always a #

Time Series

Over time i.e; month/year/minute (10 Year Period)

Cross Sectional

Single point in time (1 Year/1 month)

Data

Variable

Observation

Variation

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

A characteristic of quantity of interest that can take on diff…

A set of values corresponding to a set of variables

Differences in values of a variable over observations

Data

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

Variable

A characteristic of quantity of interest that can take on diff…

Data

Variable

Observation

Variation

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

A characteristic of quantity of interest that can take on diff…

A set of values corresponding to a set of variables

Differences in values of a variable over observations

Data

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

Variable

A characteristic of quantity of interest that can take on diff…

Statistics x

Data x

Data set x

Elements x

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

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

All the data collected in a particular study

The entities on which data are collected

Statistics x

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

Data x

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