# Statistics CH.1

Home > Preview

The flashcards below were created by user morganhchs on FreezingBlue Flashcards.

1. List the ways that statics are used.
1. To make decisions in business

• 2. To organize, analyze, transform
• data, and to present the information
2. What is the differences between descriptive and inferential statistics?
• Descriptive is for organizing,
• summarizing, and presenting data.

Inferential is a decision,estimate, prediction, or generalization about a population based on a sample .
3. What is the difference between a sample and a population?
Population is all of the possible individuals or objects.

Sample is a smaller portion of the population.
4. What is the difference between qualitative and quantitative variables?
Qualitative is non-numerical and Quantitative is numerical
5. What are the differences between discrete and continuous variables?
• Discrete can only assume certain values.
• i.e. Number of rooms in a house or number of hammers at the Home Depot.

• Continuous can assume any value within a specified range.
• i.e. tire pressure, temperature, body weight…
6. Name the levels of measurement in data.
Nominal Level- cannot be arranged and has no value (eye color survey)

Ordinal Level- can be arranged but the differences have no value or are meaningless(soda taste test)

Interval Level - can be arranged and differences between data values are meaningful. There is no natural zero point. (temperature)

Ratio Level - same as interval except has an inherent zero starting point (milesdriven daily)

### Card Set Information

 Author: morganhchs ID: 170737 Filename: Statistics CH.1 Updated: 2012-09-13 22:39:11 Tags: statistics business college tables data distribution Chebyshev’s Theorem weighted mean arithmetic Empirical Rule sample population geometric standard deviation grouped Folders: Description: Statistics 101 (Econ 2040) Instructor: Dr. Achintya Ray at Tennessee State University Show Answers:

Home > Flashcards > Print Preview