Statistics_ Key Concepts, Data Types,
Statistics_
and Key
Graphical
Concepts,
Displays
Data_Types,
Statistics_
Statistics
andStudy
Key
Graphical
Concepts,
Guide.pdf
Displays
Data_Types,
Statistics
andStudy
Graphical
Guide.pdf
Displays _ Statistics Study Guide.pdf
Statistics: Key
Concepts, Data
Types, and
Graphical Displays
| Statistics Study
Guide
Statistics_ Key Concepts, Data Types,
Statistics_
and Key
Graphical
Concepts,
Displays
Data_Types,
Statistics_
Statistics
andStudy
Key
Graphical
Concepts,
Guide.pdf
Displays
Data_Types,
Statistics
andStudy
Graphical
Guide.pdf
Displays _ Statistics Study Guide.pdf
,Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf
Terms in this set (280)
What is statistics? Statistics is the science of collecting, analyzing, interpreting, and presenting data.
What are the two main branches of statistics? Descriptive statistics (organizing and summarizing data) and inferential statistics
(using probability methods to draw conclusions).
What are the three main steps in statistics? 1. Collect data 2. Analyze data 3. Present data/inference.
How is statistics applied in accounting? By randomly sampling information to audit clients.
How is statistics applied in economics? To make forecasts about future aspects of the economy.
How is statistics applied in finance? Advisors use statistics to offer investment advice.
How is statistics applied in information systems? To assess the performance of computer networks.
How is statistics applied in management? Using statistical quality control charts to monitor production output.
How is statistics applied in marketing? To research consumer behavior and understand preferences.
Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf
,Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf
What is data? Values assigned to measurements.
What is a data set? All data values collected for a particular study.
What is primary data? Data collected by researchers from their sources.
What are the advantages and disadvantages of primary Advantages: collected and organized by the user. Disadvantages: expensive and
data? time-consuming.
What is secondary data? Data that has already been collected and made available.
What are the advantages and disadvantages of Advantages: readily accessible and cheap. Disadvantages: no control over
secondary data? organization and accuracy.
What are the four scales of measurement? 1. Nominal 2. Ordinal 3. Interval 4. Ratio.
What is nominal data? Data that uses arbitrary labels for categories with no ranking.
What is ordinal data? Data that has a meaningful order but no measurable differences between ranks.
Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf
, Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf
What is interval data? Data that has meaningful differences between values but no true zero.
What is ratio data? Data that has meaningful differences and a true zero, allowing for the calculation
of ratios.
What is the difference between a population and a Population: all possible subjects of interest; Sample: a portion of the population
sample? examined.
What is a parameter? A characteristic describing the population.
What is a statistic? A characteristic describing the sample.
What is analytics? Transforming data into insight to make better decisions.
What are the types of analytics? Descriptive analytics (describes past events), prescriptive analytics (prescribes
the best course of action), and predictive analytics (predicts future outcomes).
Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf
Statistics_
and Key
Graphical
Concepts,
Displays
Data_Types,
Statistics_
Statistics
andStudy
Key
Graphical
Concepts,
Guide.pdf
Displays
Data_Types,
Statistics
andStudy
Graphical
Guide.pdf
Displays _ Statistics Study Guide.pdf
Statistics: Key
Concepts, Data
Types, and
Graphical Displays
| Statistics Study
Guide
Statistics_ Key Concepts, Data Types,
Statistics_
and Key
Graphical
Concepts,
Displays
Data_Types,
Statistics_
Statistics
andStudy
Key
Graphical
Concepts,
Guide.pdf
Displays
Data_Types,
Statistics
andStudy
Graphical
Guide.pdf
Displays _ Statistics Study Guide.pdf
,Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf
Terms in this set (280)
What is statistics? Statistics is the science of collecting, analyzing, interpreting, and presenting data.
What are the two main branches of statistics? Descriptive statistics (organizing and summarizing data) and inferential statistics
(using probability methods to draw conclusions).
What are the three main steps in statistics? 1. Collect data 2. Analyze data 3. Present data/inference.
How is statistics applied in accounting? By randomly sampling information to audit clients.
How is statistics applied in economics? To make forecasts about future aspects of the economy.
How is statistics applied in finance? Advisors use statistics to offer investment advice.
How is statistics applied in information systems? To assess the performance of computer networks.
How is statistics applied in management? Using statistical quality control charts to monitor production output.
How is statistics applied in marketing? To research consumer behavior and understand preferences.
Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf
,Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf
What is data? Values assigned to measurements.
What is a data set? All data values collected for a particular study.
What is primary data? Data collected by researchers from their sources.
What are the advantages and disadvantages of primary Advantages: collected and organized by the user. Disadvantages: expensive and
data? time-consuming.
What is secondary data? Data that has already been collected and made available.
What are the advantages and disadvantages of Advantages: readily accessible and cheap. Disadvantages: no control over
secondary data? organization and accuracy.
What are the four scales of measurement? 1. Nominal 2. Ordinal 3. Interval 4. Ratio.
What is nominal data? Data that uses arbitrary labels for categories with no ranking.
What is ordinal data? Data that has a meaningful order but no measurable differences between ranks.
Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf
, Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf
What is interval data? Data that has meaningful differences between values but no true zero.
What is ratio data? Data that has meaningful differences and a true zero, allowing for the calculation
of ratios.
What is the difference between a population and a Population: all possible subjects of interest; Sample: a portion of the population
sample? examined.
What is a parameter? A characteristic describing the population.
What is a statistic? A characteristic describing the sample.
What is analytics? Transforming data into insight to make better decisions.
What are the types of analytics? Descriptive analytics (describes past events), prescriptive analytics (prescribes
the best course of action), and predictive analytics (predicts future outcomes).
Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf Statistics_ Key Concepts, Data Types, and Graphical Displays.pdf
