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36 Cards in this Set

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  • Back
Statistic
A descriptive measure of a sample
(A numerical measure describing a characteristic of a sample)
Descriptive statistics
Method of organizing, summarizing, and presenting data
Population
The group of all items of interest
Statistical Inference
The process of making an estimate, prediction, or decision about a population based on sample data
Sample
A set of data drawn from the population
One form of statistics uses numerical techniques to summarize data. To obtain information on whether the data are closely clustered or widely scattered around the "typical" data value, a measure of ___________ is computed.
variability
Nominal Variable
Categorical values
Ordinal Variables
Categorical values, but order has meaning
Interval Variables
Numerical Values. Difference between two values has meaning.
Positively Skewed
The tail of the graph extends farther to the right. Therefore, the relative frequency distribution of the values is positively skewed.
Negatively Skewed
The tail of the graph extends farther to the left. Therefore, the relative frequency distribution of the values is negatively skewed.
Population Data
Data collected from every item of interest
Sample Data
Those collected from only some of the items of interest
Parameter
Numerical measure describing a characteristic of a population
A frequency distribution can be structured either as a table or as a graph, but in either case the distribution presents the same to elements...
1. A record of the frequency (the number of individuals in each category).
2. The set of categories that make up the original measurement scale.
Mode
A measure of location, defined as the observation that occurs with greatest frequency
Outlier
An unusually small or large observation
Range
A measure of variability, defined as the largest observation minus the smallest observation
Sample statistic
A numerical value used as a summary measure for a sample
Skewness
A measure of the shape of a data distribution
Median
A measure of central location provided by the observation in the middle when the data are arranged in ascending order
A measure of variability provided by the difference between the first and third quartiles
Interquartile Range
A measure of central location computed by summing the observations and dividing the sum by the number of observations.

(average)
Mean
Standard deviation
Population Standard deviation s= square root of S squared
Simple Event
One specific outcome of a random experiment
Random Experiment
An action or process that results in one of several well-defined outcomes
Event
A collection of one or more outcomes of a random experiment
Sample Space
The collection of all outcomes of a random experiment
The intersection of events A and B
The event containing the simple events belonging to both events A and B
Mutually Exclusive Events
Events that have no simple events in common
The union of events A and B
The event containing all the simple events belonging to Event A, Event B, or both
The complement of Event A
The event that consists of all simple events that are not in Event A
If two events A and B are mutually exclusive, then they are _________________
not independent
The National Road Freight Survey, operated by the European Union, divides commercial vehicles into three groups based on their weights 2-5 tons, 5-10 tons, and over 10 tons. A simple random sample is taken from each group and data are collected on each vehicle in the sample. Which sampling method is this?
Stratified Random Sampling
In a study of bank loans to small business, a random sample of banks is selected. For the banks in the sample, data are collected on every small business loan provided by that particular month. Which sampling method is this?
Cluster Sampling
A lawn firm surveys a sample of its customers on their satisfaction levels with the firm. Clients are numbered sequentially, and Excel is used to randomly select 100 numbers assigned to the clients. The sample is obtained by using the clients whose numbers correspond to the 100 randomly selected numbers. Which sampling method is this?
Simple Random Sampling