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USF Business Statistics > Final Definitions > Flashcards

Final Definitions Flashcards

1
Q

data

A

facts and figures collected, analyzed, and summarized for presentation and interpretation

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2
Q

data set

A

all data collected in a particular study

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3
Q

elements

A

entities on which data are collected

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4
Q

variable

A

characteristic of interest for the elements

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5
Q

observation

A

set of measurements obtained for a particular element

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6
Q

categorical data

A

data that can be grouped by specific categories

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7
Q

quantitative data

A

data that use numerical values to indicate how much or how many are referred to

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8
Q

categorical variable

A

variable with categorical data

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9
Q

quantitative variable

A

variable with quantitative data

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10
Q

population

A

set of all elements of interest in a particular study

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11
Q

sample

A

subset of the population

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12
Q

frequency distribution

A

tabular summary of data showing the number (frequency) of observation in each of several non-overlapping categories or classes

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13
Q

relative frequency distrivution

A

shows the fraction or proportion of observations belonging in a class (ie 0.38)

relative frequency of a class=frequency of a class/n

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14
Q

percent frequency distribution

A

summarizes the percent frequency of data for each class ie (38%)

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15
Q

bar chart

A

graphical display for depicting categorical data summarized in a frequency, relative frequency, or percent frequency distribution
-categorical data: gap between bars

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16
Q

pie chart

A

presents relative frequency and percent frequency distributions for categorical data

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17
Q

dot plot

A

show the details of the data and are useful for comparing the distribution of the data for 2 or more variables

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18
Q

histogram

A

bar chart with no gaps

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19
Q

stem and leaf display

A

used to show simultaneously the rank order and shape of a distribution of data

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20
Q

variance

A

measure of variability that utilizes all the data

based on the difference between the value of each observation, xi, and the mean

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21
Q

standard deviation

A

positive square root of the variance

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22
Q

coefficient of variation

A

indicates how large the standard deviation is relative to the mean

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23
Q

tree diagram

A

helps visualize a multi step random expirement

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24
Q

discrete random variable

A

a random variable that may assume either a finite number of values or an infinite sequence of values ie 0,1,2,3,4 etc

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25
Q

continuous random variable

A

a random variable that may assume any numerical value in an interval or collection of intervals ie 2.751

26
Q

probability distribution

A

describes how probabilities are distributed over the values of the random variable

27
Q

probability function

A

provides the probability for each value of the random variable

28
Q

empirical discrete distribution

A

the use of the relative frequency method to develop discrete probability distributions leads to an empirical discrete distribution

29
Q

discrete uniform probability distribution

A

f(x)=1/n

30
Q

expected value

A

mean

31
Q

binomial experiment

A
  1. consists of a sequence of n identical trials
  2. two outcomes are possible for each trial, success or failure
  3. probability of success=p, does not change from trial to trial. the probability of failure=1-p, also does not change from trial to trial
  4. the trials are independent
32
Q

binomial probability distribution

A

associated with the discrete random variable, x

33
Q

sampled population

A

population from which the sample is drawn

34
Q

simple random sample

A

of size n from a finite population of size N is a sample selected such that each possible sample of size n has the same probability of being selected

35
Q

random sample

A

of size n from an infinite population is a sample selected such that 1. each element selected comes from the same population
2. each element is selected independently

36
Q

point estimate

A

p bar

x/n

37
Q

sampling distribution

A

shows distribution of frequencies of a range of different outcomes that could occur

38
Q

If the number 12.0 appears in a cell, which number might actually be stored there?

A

11.99

39
Q

All the columns in a worksheet must have the same width.

T or F?

A

F

40
Q

Excel workbooks have the file extension…

A

.xlsx

41
Q

Which of the following entries would be considered text?

A

555-1212

42
Q

In Excel, a workbook is the same as…

A

an Excel file

43
Q

In Excel, column headings are always designated by…

A

letters

44
Q

In Excel, row headings are always designated by…

A

numbers

45
Q

In Excel, an entire row or column can be hidden for clarity, and then later revealed. T or F

A

T

46
Q

A cell reads 3.1E-3. This means the cell contains the number…

A

0.0031

47
Q

The ribbon in Excel can be moved to any place on the screen. T or F

A

F

48
Q

What symbol must precede every formula?

A

=

49
Q

What Excel function adds up all the numbers in a range of data in cells?

A

SUM

50
Q

What should you type, exactly, in cell C8 to find the mean cost-per-hour?

A

=AVERAGE(C2:C7)

51
Q

What symbol would you add to a cell reference in the formula bar in order to change a relative reference of a cell to an absolute reference?

A

$

52
Q

The Excel expression “A2:B3” represents….

A

a rectangle of cells selected with corners at cells A2 and B3

53
Q

What must you press to execute the FREQUENCY function

A

CTRL-SHIFT-ENTER

54
Q

The Analysis ToolPak makes it possible to quickly generate a histogram from a set of data. Before the Histogram Tool can be used to do this, however, it is necessary to…

A

choose upper bounds for the bins we want to use and enter them in a column.

55
Q

How could the formula in cell E2 be altered so that, when copied into cells E3 and E4, the correct counts will be displayed?

A

=COUNTIF($A$1:$A$15, D2)

56
Q

Excel can generate a variety of graphs very easily. One type of graph that Excel does not make is a

A

box plot.

57
Q

What must be done to get the information in a PivotTable to update after a change is made in the data?

A

Click “refresh” in the PivotTable Tools menu.

58
Q

What is the difference between COUNTIF and COUNTIFS?

A

COUNTIFS can count over multiple ranges and criteria, COUNTIF can only count one range according to one criterion.

59
Q

How could the formula in cell G3 be altered so that when copied down and across, the correct counts will appear?

A

=COUNTIFS($B$2:$B$11,G$2,$C$2:$C$11,$F3)

60
Q

What’s the best kind of chart to use in Excel to visualize the relationship between two numerical variables?

A

Scatterplot

61
Q

To measure correlation, Excel has an embedded formula CORREL. Is the following statement true or false?

“Typing =CORREL(A1:A10, B1:B10) will give you the same value as typing in =CORREL(B1:B10, A1:A10).”
T or F

A

T

USF Business Statistics (2 decks)

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