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Study sets matching "quiz 1 terms business statistics"

Business Statistics Quiz 1
Statistics
Data
Business Statistics
Statistics in Business: Marketing
Science of collecting, organizing, and analyzing DATA and int…
Information or facts about some characteristics of subjects o…
Demonstrating how to transform business data into useful info…
Effectiveness of odds, commercials, markets
Statistics
Science of collecting, organizing, and analyzing DATA and int…
Data
Information or facts about some characteristics of subjects o…
17 terms
Business Statistics Quiz 1
The origin of statistics
Statistics Defined (descriptive defini…
Statistics (inferential definition)
Father of Modern Statistics...
A.) Government Records- In the 16th century, states needed to…
A scientific study of collecting, classifying, summarizing, a…
The science, pure and applied, of creating, developing, and a…
Sir Ronald A. Fisher
The origin of statistics
A.) Government Records- In the 16th century, states needed to…
Statistics Defined (descriptive defini…
A scientific study of collecting, classifying, summarizing, a…
25 terms
Straighterline Business Statistics Quiz 1
According to Chebyshev's Theorem, 75%…
The order that runners finish in a rac…
For an ordered data set with an even n…
What level of measurement is the price…
False
False
True
Ratio
According to Chebyshev's Theorem, 75%…
False
The order that runners finish in a rac…
False
24 terms
business statistics quiz 1
data
elements
variable
observation
facts and figures that are collected, summarized, analyzed, a…
the entities on which data is collected (who you collect your…
a characteristic of interest for the elements
the set of measurements collected for a particular element (c…
data
facts and figures that are collected, summarized, analyzed, a…
elements
the entities on which data is collected (who you collect your…
17 terms
Business Statistics Quiz 1
nomial
ordinal
interval
ratio
labels or names used to identify an attribute of the element
has properties of nominal data and the order or rank of the d…
same properties of ordinal data expressed in terms of a fixed…
The quantitative relation between two amounts showing the num…
nomial
labels or names used to identify an attribute of the element
ordinal
has properties of nominal data and the order or rank of the d…
25 terms
Straighterline Business Statistics Quiz 1
According to Chebyshev's Theorem, 75%…
The order that runners finish in a rac…
For an ordered data set with an even n…
What level of measurement is the price…
False
False
True
Ratio
According to Chebyshev's Theorem, 75%…
False
The order that runners finish in a rac…
False
10 terms
Straighterline Business Statistics Practice Quiz 1
The branch of statistics that collects…
The number of workers reporting sick i…
Categorizing students as freshmen, sop…
The branch of statistics that uses sam…
descriptive
discrete
ordinal
inferential
The branch of statistics that collects…
descriptive
The number of workers reporting sick i…
discrete
69 terms
Business Statistics Exam #1 term
skew
mean
median
positive residual
right skewed: mean > median... left skewed: mean < median
good for unimodal, symmetric distributions
good when distribution is skewed or has outliers (resistant t…
the observed is MORE than expected
skew
right skewed: mean > median... left skewed: mean < median
mean
good for unimodal, symmetric distributions
18 terms
Business Statistics Terms (Chapter 1)
Data Point
Primary Data
Secondary Data
Qualitative Data
Each individual piece of data
Data collected for your own use
Data collected by someone else
Descriptive term
Data Point
Each individual piece of data
Primary Data
Data collected for your own use
45 terms
Basic Business Statistics Chp 1
operational definition
categorical variables
numerical variables
discrete variables
universally accepted meaning that is clear to all associated…
aka qualitative variables; have values that can only be place…
aka quantitative variables; have values that represent a coun…
have numerical values that arise from a counting process
operational definition
universally accepted meaning that is clear to all associated…
categorical variables
aka qualitative variables; have values that can only be place…
26 terms
Business Statistics Chapter 1
Business statistics
Biased sample
Cross-sectional data
Data
statistics applied to the business world to help improve peop…
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 peop…
Biased sample
a sample that does not represent the intended population that…
23 terms
Business Statistics Chapter 1
Statistics
Data
Data Set
Elements
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
The art and science of collecting, analyzing, presenting, and…
Data
The facts and figures collected, analyzed, and summarized for…
35 terms
Business Statistics Chapter 1
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 w…
Integration of computer hardware, software and human knowledg…
Classical Statistics
A branch of mathematics dealing with the collection, analysis…
Bayesian Statistics
A method of decision-making in the face of uncertainty.
42 terms
Statistics: Terms: Quiz 1
statistics
The process of statistics:
Two areas of statistics
descriptive statistics
the science of collecting, organizing, summarizing, and analy…
1. identifying the research objective: identifies a group, or…
1. descriptive statistics... 2. inferential statistics
the collection, presentation, and description of sample data
statistics
the science of collecting, organizing, summarizing, and analy…
The process of statistics:
1. identifying the research objective: identifies a group, or…
11 terms
Business Statistics 191 Ch. 1 Key Terms
Biased Sample
Primary data
Secondary data
Nominal level of measurement
A sample that does not represent the intended population and…
Data collected by the person/organization who uses the data
Data that someone else has collected and made available for o…
Qualitative data observations that are assigned to predetermi…
Biased Sample
A sample that does not represent the intended population and…
Primary data
Data collected by the person/organization who uses the data
39 terms
Business Statistics Test 1
data
statistics
population
sample
consists of information that comes from observations, counts,…
how do we organize, analyze, interpret data in order to make…
the collection of all outcomes, responses, measurements, or c…
subset of a population
data
consists of information that comes from observations, counts,…
statistics
how do we organize, analyze, interpret data in order to make…
67 terms
Business Statistics key terms
data
data set
elements
variable
facts and figures collected, analyzed, and summarized for pre…
all the data collected in a particular study
entities on which data are collected
characteristic of interest for the elements
data
facts and figures collected, analyzed, and summarized for pre…
data set
all the data collected in a particular study
50 terms
Business Statistics Exam 1
descriptive statistics
inferential statistics
analytics
operation definition
methods that help collect, summarize, present, and analyze da…
methods that use data collected from a small group to reach c…
combines computer systems and statistics to generate new ways…
allows associated with an analysis to understand what the var…
descriptive statistics
methods that help collect, summarize, present, and analyze da…
inferential statistics
methods that use data collected from a small group to reach c…
46 terms
Business Statistics EXAM 1
Ogive
Statistics
Two Types of Statistics
Descriptive Statistics
Cumulative percentage polygon uses the cumulative percentage…
is the science of collecting, describing, analyzing, and inte…
Descriptive and Inferential
collect and describe data or organize, summarize and present…
Ogive
Cumulative percentage polygon uses the cumulative percentage…
Statistics
is the science of collecting, describing, analyzing, and inte…
42 terms
Business Statistics Key terms chapter 1
statistics
Individuals
variable
quantitative variable
the study of how to collect, organize, analyze, and interpret…
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 suc…
statistics
the study of how to collect, organize, analyze, and interpret…
Individuals
people or objects included in the study
67 terms
Business Statistics key terms
data
data set
elements
variable
facts and figures collected, analyzed, and summarized for pre…
all the data collected in a particular study
entities on which data are collected
characteristic of interest for the elements
data
facts and figures collected, analyzed, and summarized for pre…
data set
all the data collected in a particular study
49 terms
Business Statistics Excel Lesson 1 Key Terms
active cell
active worksheet
adjacent range
cell
the cell in the worksheet in which you can type the data
the worksheet that is displayed in the work area
all cells touch each other and form a rectangle
the intersection of a row and a column
active cell
the cell in the worksheet in which you can type the data
active worksheet
the worksheet that is displayed in the work area
20 terms
Unit 1 Terms (Business and Economic Statistics)
facts and figures collected, analyzed,…
All the data collected in a particular…
the entities on which data are collected
a characteristic of interests for the…
data
data set
elements
variable
facts and figures collected, analyzed,…
data
All the data collected in a particular…
data set
22 terms
Business Statistics Revision 1
Census
Survey
Sample
Population
The study of every item in the population
The study of a portion of the population
A portion of the population selected for study
The total of all units that falls within the scope of statist…
Census
The study of every item in the population
Survey
The study of a portion of the population
20 terms
Business Statistics Ch 1
Biased Sample
Cross-Sectional Data
Descriptive Statistics
Direct Observation
A sample that does not reflect the intended population and ca…
Data values that correspond to a specific time period
Branch of statistics that focuses on summarizing, or displayi…
Method of gathering primary data by observing objects of inte…
Biased Sample
A sample that does not reflect the intended population and ca…
Cross-Sectional Data
Data values that correspond to a specific time period
18 terms
business statistics chapter 1
what are 3 reasons to study statistics?
the science of collecting organizing,…
methods of organizing, summarizing, an…
the methods used to estimate a propert…
1. Data is collected everywhere and require statistical knowl…
statistics
descriptive statistics
inferential statistics
what are 3 reasons to study statistics?
1. Data is collected everywhere and require statistical knowl…
the science of collecting organizing,…
statistics
34 terms
business statistics test 1
population
sample
confidence level
significance level
group of all items of interest to a statistical practitioner
set of data drawn from the population
proportion of times that an estimating procedure will be corr…
how frequently the conclusion will be wrong in the long run
population
group of all items of interest to a statistical practitioner
sample
set of data drawn from the population
48 terms
Business Statistics: Exam 1
Variation is what?
The PDSA Cycle
The PDSA Cycle was created by whom?
Law of Variation
the enemy
plan, study, act
Walter Shewart
No 2 things are exactly alike except by chance
Variation is what?
the enemy
The PDSA Cycle
plan, study, act
19 terms
Chapter 1 Business Statistics
Which of the following is an example o…
Which of the following is an example o…
A characteristic of interest for the e…
In a data set, the number of observati…
the number of people in a waiting line
social security number
variable
elements
Which of the following is an example o…
the number of people in a waiting line
Which of the following is an example o…
social security number
73 terms
Business Statistics Chapter 1
Business Statistics
Statistical Procedures
Descriptive Statistics
Probability
A collection of procedures and techniques used to convert dat…
Descriptive Statistics, Probability, Inferential Statistics
Procedures and techniques designed to describe data
Traditional probability, like games of chance
Business Statistics
A collection of procedures and techniques used to convert dat…
Statistical Procedures
Descriptive Statistics, Probability, Inferential Statistics
28 terms
Business Statistics Exam 1
Statistics
Elements
Observations
Variables
Numeric facts(Avgs, Medians, %, & index numbers)
...
...
...
Statistics
Numeric facts(Avgs, Medians, %, & index numbers)
Elements
...
88 terms
Business Statistics Terms 2242
Census
Infinite Population
Finite Population
Population
procedure of systematically acquiring and recording informati…
population defined so that there is no limit to the number of…
population that contains a limited, countable number of units
a complete set of units to be studied
Census
procedure of systematically acquiring and recording informati…
Infinite Population
population defined so that there is no limit to the number of…
37 terms
Business Statistics #2 Terms
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 populatio…
A simple random sample of size (n) from a finite population o…
Sampled Population
The population from which the sample is taken.
Frame
A listing of the elements the sample will be selected from.
8 terms
Statistics II Quiz 1 Terms
Population mean
Population standard deviation
Population variance
Sample mean
μ
σ
σ2
χ
Population mean
μ
Population standard deviation
σ
51 terms
Business Statistics Terms
statistics
statistics
individuals
variable
the study of how to collect, organize, analyze, and interpret…
both the science of uncertainty and the technology of extract…
the people or objects included in the study
a characteristic of the individual to be measured or observed
statistics
the study of how to collect, organize, analyze, and interpret…
statistics
both the science of uncertainty and the technology of extract…
77 terms
Business Statistics Test 1
Descriptive Statistics
Statistics
Population
Sample
methods of organizing, summarizing, and presenting data in an…
the science of collecting, organizing, presenting, analyzing,…
the entire set of individuals or objects of interest or the m…
a portion, or part, of the population of interest
Descriptive Statistics
methods of organizing, summarizing, and presenting data in an…
Statistics
the science of collecting, organizing, presenting, analyzing,…
17 terms
Business Statistics Ch.1
Statistics
Observation
Variable
Population
collecting, analyzing and presenting data
set of measurements collected
item of interest
whole
Statistics
collecting, analyzing and presenting data
Observation
set of measurements collected
29 terms
Business Statistics Chapter 1
Statistics
Data
Data set
Elements
numerical facts such as averages, medians, percents, and inde…
facts and figures collected, analyzed, and summarized for pre…
all the data collected in a particular study
entities on which data are collected
Statistics
numerical facts such as averages, medians, percents, and inde…
Data
facts and figures collected, analyzed, and summarized for pre…
20 terms
Chapter 1: Business Statistics
Business statistics
Descriptive Statistics
inferential statistics
Population
the collection, summarization, analysis, and reporting of num…
describes or summarizes the characteristics of a set of data
(inductive statistics) makes inferences regarding the phenome…
(universe) the entire set of people or objects of interest
Business statistics
the collection, summarization, analysis, and reporting of num…
Descriptive Statistics
describes or summarizes the characteristics of a set of data
12 terms
Business Quiz 1 Terms
Business
Goods
Services
Revenue
An organization that strives for a profit by providing goods…
Tangible items manufactured by businesses
Intangible offerings of businesses that can't be held, touche…
The money a company earns from providing services or selling…
Business
An organization that strives for a profit by providing goods…
Goods
Tangible items manufactured by businesses
22 terms
Business Statistics- Chapter 1
Define Statistics
Define descriptive statistics
define inferential statistics
operational definitions
math that transforms numbers into useful information for deci…
focuses on collecting, summarizing, presenting, and analyzing…
data that have been collected from a small group to draw conc…
universally accepted meanings that are clear to all associate…
Define Statistics
math that transforms numbers into useful information for deci…
Define descriptive statistics
focuses on collecting, summarizing, presenting, and analyzing…
18 terms
Business Statistics in Practice - Chapter 1
variable
quantitative variable
qualitative variable
cross-sectional data
any characteristic of an element
If the possible measurements of the values of a variable are…
if we simply record into which of several categories an eleme…
data collected at the same or approximately the same point in…
variable
any characteristic of an element
quantitative variable
If the possible measurements of the values of a variable are…
47 terms
Business Statistics Midterm 1
discrete
continuous
frequency distributions
dot plot
countable number of values
infinite number of values
organizes data into mutually exclusive classes... the number of…
makes a dot out of the frequency, no shape, 1 variable
discrete
countable number of values
continuous
infinite number of values
19 terms
Chapters 1-4 Business Statistics
Mean
Median
Mode
Descriptive Statistics
Average; the sum total of a data set divided by the number of…
The middle value of a data set that is in numerical order. If…
The number that occurs most in a data set. If every number oc…
"Tabular, graphical, and numerical summaries of data."... Examp…
Mean
Average; the sum total of a data set divided by the number of…
Median
The middle value of a data set that is in numerical order. If…
26 terms
Chapter 1 - Business Statistics Chappell
A survey to collect data on the entire…
In a questionnaire, respondents are as…
The scale of measurement that is used…
The ordinal scale of measurement has t…
census
nominal scale
ordinal
nominal
A survey to collect data on the entire…
census
In a questionnaire, respondents are as…
nominal scale
17 terms
Business Statistics Chapter 5 Terms
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 v…
A random variable that may assume any numerical value in an i…
Describes how probabilities are distributed over the values o…
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 v…
68 terms
Exam #1 Business Statistics
Science of collecting, organizing, pre…
what type of measurement has no natura…
data arranged in some order but the di…
meaningful amounts of differences betw…
Statistic
interval
ordinal
interval measurement
Science of collecting, organizing, pre…
Statistic
what type of measurement has no natura…
interval
23 terms
Business Statistics Midterm #1
data
elements
variable
observation
the facts and figures collected, analyzed, and summarized for…
the entities on which data are collected
a characteristic of interest for the elements
the set of measurements obtained for a particular element
data
the facts and figures collected, analyzed, and summarized for…
elements
the entities on which data are collected
21 terms
Business Statistics: Chapter 1 - Data & Statistics
statistics
Statistics
Data
Data set
numerical facts
art and science
facts and figures, collected, analyzed, and summarized for pr…
all the data collected in a particular study
statistics
numerical facts
Statistics
art and science
23 terms
Business statistics chapter 1
Statistics
Application in business economics
Data
Data set
numerical facts such as averages, medians, percentages, and i…
accounting, economics, finance, marketing, and production.
are the facts and figures collected, analyzed and summarized…
all the data collected in a particular study.
Statistics
numerical facts such as averages, medians, percentages, and i…
Application in business economics
accounting, economics, finance, marketing, and production.
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