Statistics -1 test 1

• To summarize data
• to draw conclusions from those data
• To make reliable forecasts about business activities
• To Improve business processes

The methods that help collect, summarize, present, and analyze a set of data

The methods that use the data collected from a small group to draw conclusions about a larger group

A characteristic of an in item or individual

The different values associated with a variable

Universally accepted meanings that are clear to all associated with an analysis

Consists of all the items or individuals about which you want to reach conclusions

The portion of a population selected for analysis

A measure that describes a characteristic of a population

The measure that describes a characteristic of a sample

Qualitative variable, have values that can only be placed in categories, like yes and no;

Quantitative variable, have values that represent quantities, numerical variables are further identified as being either discrete or continuous variables

have numerical values that arise from a counting process, ie the number cable channels subscribed to, also the number of items purchased

Produce numerical values that arise from a measuring process, IE the time you wait

Classifies data into distinct categories in which no ranking is implied, IE your favorite soft drink, political party, gender, weakest form of measurement

Classifies values into distinct categories in which ranking is implied, IE How was your service, poor, good excellent; the ordering implies only which category is 'greater', not by how much

An ordered schale in which the difference between measurements is a meaningful quantity but does not involve a true zero point... such as temperature on the Celsious scale

an ordered scale in which the difference between the measurements involves a true zero point, height weight, age, or salary

a bar chart for grouped numerical data in which you use vertical bars to represent the frequencies or percentages in each group.  There are no gaps between adjacent bars.  The variable of interest along the x axis, and the frequency or the percentage on you y axis

Uses the midpoints of each class interval to represent the data of each class and then plots the midpoints, at their respective class percentages