Business Statistics
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What is an investigation of all the individual observations making up a population called?
Census

What is one data point or daturn called?
Observation

A summary measure of a population is called?
Parameter

The group being studied is called?
Population

A representative subset of a population; a sample can be the entire population
Sample

The process of collecting a representative sample from which conclusions about the population may be drawn
Sampling

A summary measure of a sample
Statistic

Helps transform numbers into useful information for decision makers.
Statistics

Methods that help collect, summarize, present, and analyze data
Descriptive statistics

Methods that use the data collected from a small group to reach conclusions about a larger group.
Inferential statistics

Numerical literacy is called?
Numeracy

What is used to make reliable forecasts?
Statistical prediction

What combines computer systems and statistics to generate new ways to help analyze corporate enterprise data, particularly collections of historical data?
Analytics

The values associated with a trait or property that help distinguish the occurrences of something is called?
Data

What word is used to describe a single value?
Datum

What is one of those traits or properties that helps distinguish the occurrence of something is called?
Variable

A characteristic of an item or individual
Variable

The set of individual values associated with a variable
Data

Allows all associated with an analysis to understand what the variable represents and what its possible values are.
Operational Definition

Values that can only be placed into categories such as yes and no, also known as qualitative variables
Categorical variables

Values that represent quantites, also known as quantitative variables
Numerical variables

Numerical values that arise from a counting process
Discrete variables

Numerical responses that arise from a measuring process
Continuous variables