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Business Statistics I > Chapter 2.0 > Flashcards

Chapter 2.0 Flashcards

1
Q

Tabular summary of data showing the number (frequency) of observations in each of several nonoverlapping categories or classes.

A

Frequency Distribution

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2
Q

The fraction or proportion of observations belonging to a class.

A

Relative Frequency

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3
Q

Tabular summary of data showing the relative frequency for each class.

A

Relative Frequency Distribution

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4
Q

The relative frequency multiplied by 100.

A

Percent Frequency

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5
Q

Tabular summary of data showing the percent frequency for each class.

A

Percent Frequency Distribution

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6
Q

Graphical display for depicting categorical data summarized in a frequency, relative frequency, or percent frequency distribution.

A

Bar Chart

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7
Q

Graphical display for depicting categorical data summarized in a relative frequency or percent frequency distribution.

A

Pie Chart

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8
Q

Frequency of the class / n, where n = the total number of observations in the data set.

A

Equation for Relative Frequency

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9
Q

What is the equation for relative frequency?

A

Frequency of the class / n, where n = the total number of observations in the data set.

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10
Q

Are the bars separated or adjacent in a bar chart?

A

Separated

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11
Q

Are the bars separated or adjacent in a histogram?

A

Adjacent

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12
Q

Is a bar chart used for categorical or quantitative data?

A

Categorical

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13
Q

Is a histogram used for categorical or quantitative data?

A

Quantitative

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14
Q

What does the horizontal axis of a bar chart or histogram show?

A

Classes/categories

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15
Q

What does the vertical axis of a bar chart or histogram show?

A

Frequency, relative frequency, or percent frequency

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16
Q

What are the three steps in defining the classes for a frequency distribution with quantitative data?

A
  1. Determine the number of nonoverlapping classes.
  2. Determine the width of each class.
  3. Determine the class limits.
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17
Q

(Largest data value - Smallest data value) / Number of classes

A

Equation to approximate the class width for a frequency distribution with quantitative data.

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18
Q

What is the equation to approximate the class width for a frequency distribution with quantitative data?

A

(Largest data value - Smallest data value) / Number of classes

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19
Q

A simple graphical summary of quantitative data where each data value is represented by a dot placed above the horizontal axis.

A

Dot Plot

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20
Q

Graphical display for depicting quantitative data summarized in a frequency, relative frequency, or percent frequency distribution.

A

Histogram

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21
Q

The ______ ______ determine the width of the rectangles of a histogram.

A

Class Limits

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22
Q

One of the most important uses of a histogram is to provide information about the shape, or form, of a ______.

A

Distribution

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23
Q

If a histogram’s tail extends farther to the left, it is ______ to the ______.

A

Skewed to the left

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24
Q

If a histogram’s left tail mirrors the shape of the right tail, is is a _______ histogram.

A

Symmetric

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25
Tabular summary of quantitative data showing the number of data items with values less than or equal to the upper class limit of each class.
Cumulative Frequency Distribution
26
Tabular summary of quantitative data showing the proportion of data items with values less than or equal to the upper class limit of each class.
Cumulative Relative Frequency Distribution
27
Tabular summary of quantitative data showing the percentage of data items with values less than or equal to the upper class limit of each class.
Cumulative Percent Frequency Distribution
28
Graphical display used to show simultaneously the rank order and shape of a distribution of quantitative data.
Stem-and-Leaf Display
29
In a stem-and-leaf display, the numbers to the left of the vertical line form the ______.
Stem
30
In a stem-and-leaf display, each digit to the right of the vertical line is a ______.
Leaf
31
What are 3 methods to summarize data for a categorical variable in a table?
Frequency Distribution Relative Frequency Distribution Percent Frequency Distribution
32
What are 2 methods to summarize data for a categorical variable in a graphical display?
Bar Chart | Pie Chart
33
What are 6 methods to summarize data for a quantitative variable in a table?
Frequency Distribution Relative Frequency Distribution Percent Frequency Distribution Cumulative Frequency Distribution Cumulative Relative Frequency Distribution Cumulative Percent Frequency Distribution
34
What are 3 methods to summarize data for a quantitative variable in a graphical display?
Dot Plot Histogram Stem-and-Leaf Display
35
What are 5 graphical displays used to show the distribution of data?
``` Bar Chart Pie Chart Dot Plot Histogram Stem-and-Leaf Display ```
36
What are 2 graphical displays used to make comparisons?
Side-by-Side Bar Chart | Stacked Bar Chart
37
What are 2 graphical displays used to show relationships?
Scatter Diagram | Trendline
38
Graphical display showing the relationship between two quantitative variables.
Scatter Diagram
39
A _____ provides an approximation of the relationship between two quantitative variables displayed in a scatter diagram.
Trendline
40
What are 3 types of relationships a trendline can show on a scatter diagram?
Positive Negative No Apparent
41
Graphical display depicting multiple bar charts on the same display to compare two variables.
Side-by-Side Bar Chart
42
A bar chart in which each bar is broken into rectangular segments of a different color to compare two variables and show the relative frequency of each class.
Stacked Bar Chart
43
The use of graphical displays to summarize and present information about a data set.
Data Visualization
44
The art and science of collecting, analyzing, presenting, and interpreting data.
Statistics
45
The scientific process of transforming data into insight for making better decisions.
Analytics
46
A set of data that cannot be managed, processed, or analyzed with commonly available software in a reasonable amount of time.
Big Data
47
The process of using procedures from statistics and computer science to extract useful information from extremely large databases.
Data Mining
48
The entities on which data are collected.
Elements
49
A characteristic of interest for the elements.
Variable
50
The set of measurements obtained for a particular element.
Observation
51
Type of data that uses labels or names to identify an attribute of each element.
Categorical Data
52
Type of data that uses numeric values to indicate how much or how many of something.
Quantitative Data
53
The scale of measurement for a variable when the data are labels or names used to identify an attribute of an element.
Nominal
54
The scale of measurement for a variable when the data exhibit the properties of nominal data and the order or rank of the data is meaningful.
Ordinal
55
The scale of measurement for a variable when the data exhibit the properties of ordinal data and the interval between values is expressed in terms of a fixed unit of measure.
Interval
56
The scale of measurement for a variable when the data exhibit the properties of interval data and the ratio of the two values is meaningful (i.e. there is a meaningful zero).
Ratio
57
The set of all elements of interest in a particular study.
Population
58
A subset of the population.
Sample
59
A survey to collect data on the entire population.
Census
60
A survey to collect data on a sample.
Sample Survey
61
The set of analytical techniques that describe what has happened in the past.
Descriptive Analytics
62
The set of analytical techniques that use models constructed from past data to predict the future or assess the impact of one variable on another.
Predictive Analytics
63
The set of analytical techniques that yield a best course of action.
Prescriptive Analytics
64
Tabular, graphical, and numerical summaries of data.
Descriptive Statistics
65
The process of using data obtained from a sample to make estimates or test hypotheses about the characteristics of a population.
Statistical Inference
66
The facts and figures collected, analyzed, and summarized for presentation and interpretation.
Data
67
All the data collected in a particular study.
Data Set
68
Data collected at the same or approximately the same point in time.
Cross-sectional Data
69
Data collected over several time periods.
Time Series Data
70
A set of visual displays that organizes and presents information that is used to monitor the performance of a company or organization in a manner that is easy to read, understand, and interpret.
Data Dashboard
71
The value halfway between the lower and upper class limits.
Class Midpoint

Business Statistics I (5 decks)

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