MS 2032

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MS 2032
2011-07-12 17:52:00

Cards for MS Chapter 1
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  1. Statistics
    a science dealing with the collection, analysis, interpretation, and presentation of numerical data.
  2. Accounting-
    -auditing and cost estimation
  3. Economics-
    -Regional, national and international economics performance
  4. Finance--
    investments and portfolio management
  5. Management-
    - human resources, compensation, and quality management
  6. Management Information Systems-
    -performance of systems which gather, summarize, disseminate information to various managerial levels.
  7. Marketing-
    -market analysis and consumer research
  8. International Business
    market and demographic analysis.
  9. Descriptive statistics
    using data gathered on a group to describe about the group
  10. Inferential statistics
    data gathered from a sample and used to reach conclusions about population from which data was gathered.
  11. Population
    The whole collection of persons, objects, or items under study.
  12. Census
    Gathering data from the entire population
  13. Parameter:
    Descriptive measure of the population. Usually represented by Greek letters.
  14. Statistic
    Descriptive measure of a sample. Usually represented by Roman letters.
  15. Nominal Level Data:
    can be used only to classify or categorize. The categorize can be numbered, but no ordering of the cases is implied. e.g. gender, religion, ethnicity, political affiliation, geographic location, place of birth, job, SSN, telephone numbers, area code, ZIP codes.
  16. Ordinal Level Data:
    Can be used to rank or order objects. Like first place, second place, third place, etc. Or: Instructor displayed interest in student’s learning, rank interest on 1 to 10 with 10 as the highest and 1 as the lowest.
  17. Interval Level Data:
    If the data always numerical and the distances between consecutive numbers are equal, and location of origin (zero) is arbitrary. e.g. Fahrenheit Temperature and Celsius Temperature (note: zero degree is just another point on the scale and does not mean the absence of the temperature), percentage change in employment, percentage return on a stock, dollar change in stock price.
  18. Ratio Level Data:
    Ratio level data have the same properties as interval level data, but reatio level data have an absolute zero, and the ratio of two numbers is meaningful. e.g. height, weight, time, volume, distance, number of people, age, profit and loss, revenue, expenses, financial ratios (P/E Ratio, Inventory Turnover, Quick Ratio).