Econ 261 ch 1
Home > Flashcards > Print Preview
The flashcards below were created by user
gabo
on
FreezingBlue Flashcards. What would you like to do?

Categorical data
Labels or names used to identify an attribute of each element. Categorical data use either the nominal or ordinal scale of measurement and may be nonnumeric or numeric.

Categorical variable
A variable with categorical data.

Census
A survey to collect data on the entire population.

Crosssectional data
Data collected at the same or approximately the same point in time.

Data
The facts and figures collected, analyzed, and summarized for presentation and interpretation.

Data mining
 The process of using procedures from statistics and computer science to
 extract useful information from extremely large databases.

Data set
All the data collected in a particular study.

Descriptive statistics
Tabular, graphical, and numerical summaries of data.

Elements
The entities on which data are collected.

Interval scale
The scale of measurement for a variable if the data demonstrate the properties of ordinal data and the interval between values is expressed in terms of a fixed unit of measure. Interval data are always numeric.

Nominal scale
The scale of measurement for a variable when the data are labels or names used to identify an attribute of an element. Nominal data may be nonnumeric or numeric.

Observation
The set of measurements obtained for a particular element.

Ordinal scale
The scale of measurement for a variable if the data exhibit the properties of nominal data and the order or rank of the data is meaningful. Ordinal data may be nonnumeric or numeric.

Population
The set of all elements of interest in a particular study.

Quantitative data
Numeric values that indicate how much or how many of something. Quantitative data are obtained using either the interval or ratio scale of measurement.

Quantitative variable
A variable with quantitative data.

Ratio scale
The scale of measurement for a variable if the data demonstrate all the properties of interval data and the ratio of two values is meaningful. Ratio data are always numeric.

Sample
A subset of the population.

Sample survey
A survey to collect data on a sample.

Statistical inference
The process of using data obtained from a sample to make estimates or test hypotheses about the characteristics of a population.

Statistics
The art and science of collecting, analyzing, presenting, and interpreting data.

Time series data
Data collected over several time periods.

Variable
A characteristic of interest for the elements.