Business Statistics

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Author:
suni_daze
ID:
235182
Filename:
Business Statistics
Updated:
2013-09-16 17:39:42
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Definition
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Chapter 1
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  1. What is an investigation of all the individual observations making up a population called?
    Census
  2. What is one data point or daturn called?
    Observation
  3. A summary measure of a population is called?
    Parameter
  4. The group being studied is called?
    Population
  5. A representative subset of a population; a sample can be the entire population
    Sample
  6. The process of collecting a representative sample from which conclusions about the population may be drawn
    Sampling
  7. A summary measure of a sample
    Statistic
  8. Helps transform numbers into useful information for decision makers.
    Statistics
  9. Methods that help collect, summarize, present, and analyze data
    Descriptive statistics
  10. Methods that use the data collected from a small group to reach conclusions about a larger group.
    Inferential statistics
  11. Numerical literacy is called?
    Numeracy
  12. What is used to make reliable forecasts?
    Statistical prediction
  13. What combines computer systems and statistics to generate new ways to help analyze corporate enterprise data, particularly collections of historical data?
    Analytics
  14. The values associated with a trait or property that help distinguish the occurrences of something is called?
    Data
  15. What word is used to describe a single value?
    Datum
  16. What is one of those traits or properties that helps distinguish the occurrence of something is called?
    Variable
  17. A characteristic of an item or individual
    Variable
  18. The set of individual values associated with a variable
    Data
  19. Allows all associated with an analysis to understand what the variable represents and what its possible values are.
    Operational Definition
  20. Values that can only be placed into categories such as yes and no, also known as qualitative variables
    Categorical variables
  21. Values that represent quantites, also known as quantitative variables
    Numerical variables
  22. Numerical values that arise from a counting process
    Discrete variables
  23. Numerical responses that arise from a measuring process
    Continuous variables

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