# MAT 2170

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1. Association
• an organization of people with a common purpose and having a formal structure.
• the act of associating or state of being associated.
• connection or combination.
• the connection or relation of ideas, feelings, sensations, etc.; correlation of elements of perception, reasoning, or the like.
2. Bar Chart
a graph using parallel bars of varying lengths, as to illustrate comparative costs, exports, birth-rates, etc.
3. Box-and-Whisker Plot
(aka Box Plot)
a graphical summary of data that is based on a five-number summary. A key to the development of a box plot is a computation of the interquartile range, IQR = Q3 - Q1.
4. Categorical Data
• Data that can be grouped by specific categories are referred to as categorical data.
• Categorical data use either the nominal or ordinal scale of measurement.
5. Census
The process of conducting a survey to collect data for the entire population is called a census.
6. Central Tendency
the tendency of samples of a given measurement to cluster around some central value.
7. Chebyshev's Theorem
• Chebyshev's theorem enables us to make statements about the portion of data values that must be within a specified number of standard deviations of the mean.
• At least 75%, of the data values must be within 2 standard deviations of the mean.
• At least 89%, of the data values must be within three standard deviations of the mean.
• At least 94%, of the data values must be within four standard deviations of the mean.
8. Correlation Coefficient

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 Author: metasys ID: 258813 Filename: MAT 2170 Updated: 2014-01-28 13:39:47 Tags: Business Statistics Folders: Description: Vocabulary Show Answers:

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