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Business Stats - Exam 1 Terminology > Definitions > Flashcards

Definitions Flashcards

(52 cards)

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1
Q

One categorical variable use what type of graph?

A

pie chart, bar chart

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2
Q

Two categorical variables = what type of graph?

A

contingency table

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3
Q

Categorical Data

A

words and categories

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4
Q

Quantitative Data

A

numbers

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5
Q

Graphs for 1 Quantitative Variable

A

histograms, dot plots, stem and leaf plots, box plot

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6
Q

Graph for 2 Quantitative Variables

A

Scatterplot

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7
Q

Graph for 1 Quantitative Variable w/ multiple categories

A

Boxplots

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8
Q

Standard deviation is the

A

square root of the variance

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9
Q

Find Mean & Standard Deviation in JMP by:

A

> Analyze

>Distribution

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10
Q

Sample Statistic for one proportion

A

phat

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11
Q

Sample Statistic for one mean

A

ybar

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12
Q

Population Parameter for one proportion

A

p

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13
Q

Population Parameter for one mean

A

mu

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14
Q

Sample Statistic for 2 independent means

A

ybar1 - ybar2

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15
Q

Sample Statistic for matched pairs

A

ybard

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16
Q

Sample Statistic for 2 independent proportions

A

phat1 - phat2

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17
Q

Population Parameter for 2 independent means

A

mu1 - mu2

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18
Q

Population Parameter for matched pairs

A

mud

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19
Q

Matched Pairs example

A

twins, husbands & wives, pretest/posttest, sales vs no sales from SAME store

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20
Q

If you see average then…..

A

MEAN

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21
Q

If you see proportion then…..

22
Q

Standard error =

Study These Flashcards
A

the standard deviation of the SAMPLE

23
Q

For Means to be NORMAL:

Study These Flashcards
A
  • large enough sample size
  • random
  • independent
  • not larger than 10% of population
24
Q

For Proportions to be NORMAL:

Study These Flashcards
A
  • need at least 10 successes and 10 failures
  • random
  • independent
  • not larger than 10% of population
25
Mean/Proportion problem, finding probability: first find standard error (std. deviation of the sample mean) then JMP =
>Distribution Calculator
26
Width of a CI =
2(ME) OR (Upper CI - Lower CI)
27
As confidence level increases, the width of the confidence level will
increase
28
If sample size increases, width of the confidence interval will
decrease
29
IF null hypothesis is contained within the confidence interval and when null is zero and contained you would
FAIL TO REJECT HO
30
IF null hypothesis is NOT contained within the confidence interval or when null is zero and not contained you would
REJECT HO
31
P-value tells us the probability of
obtaining the sample assuming the null hypothesis is true
32
P-value lower than a (significance level)?
REJECT THAT HO Results are statistically significant There is sufficient evidence for HA
33
P-val less than 0.01
VERY STRONG
34
P-val less than 0.05
STRONG
35
P-val greater than 0.10
NONE
36
To determine where equal variances or not =
larger std dev / smaller std dev < 2 then ITS EQUAL/POOLED
37
Ho and Ha are always with the
PARAMETERS
38
Means use __ score
T
39
Proportions use __ score
Z
40
To find the CI of 2 proportions/means...
Use Hypothesis Test!!!
41
Previous / expected in a study is the
p for the Ho and Ha
42
You get a test statistic then what conclusion?
JMP: Dist calculator, input values to calculate probability, put test statistic as value, 2 sided, find p-val and make conclusion
43
Type 1 & 2 Errors!!!
1 - Ho True - Reject - Alpha | 2 - Ho False - FTR - Beta
44
Increase alpha = increase probability of Type 1 means Type 2 will
DECREASE
45
Increasing sample size will decrease probability of a ___ error
Type 2
46
Power is
ability of a hypothesis test to detect the Ho is false
47
The bigger the effect side, the easier to
reject Ho
48
Chi Sq GOODNESS OF FIT
determine if data fits a given distribution one categorical variable whole what night people go out more problem
49
Chi Sq INDEPENDENCE
determine if two categorical variables are independent | if 3X3 then it must be independence
50
Chi Sq HOMOGENEITY
ONE categorical but over TWO populations | first semester, last semester problem testing crammed stuff
51
Linear regression is always ___
EXPECTED
52
residual - e =
actual (y) - predicted (yhat)

Business Stats - Exam 1 Terminology (2 decks)

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