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ETEEAP > Business Statistics > Flashcards

Business Statistics Flashcards

1
Q

Is the science of good decision making in the face of uncertainty and is used in many disciplines such as financial analysis, econometrics, auditing, production and operations including services improvement, and marketing research

A

Business Statistics

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2
Q

A set of numerical data or observations

A

Statistics

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3
Q

A branch of science which deals with collection, presentation, analysis of data and interpretation of results

A

Statistics

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4
Q

Four Processes of Statistics

A
  1. Collection of Data
  2. Presentation of Data
  3. Analysis of Data
  4. Interpretation of Results
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5
Q

Refers to the different data gathering techniques

A

Collection of Data

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6
Q

Refers to the process of organizing data

A

Presentation of Data

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7
Q

Refers to the method of obtaining necessary, relevant and noteworthy information from the given data through statistical tools

A

Analysis of Data

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8
Q

Refers to the tools of drawing out conclusions, descriptions, inferences or generalizations from the analyzed data

A

Interpretation of Results

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9
Q

Two divisions of Statistics

A
  1. Descriptive Statistics
  2. Inferential Statistics
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10
Q

Pertains to the statics method without making conclusions, predictions or inferences about a larger set

A

Descriptive Statistics

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11
Q

Pertains to methods of dealing with making inferences, estimations or predictions about the entire population based in information provided by the sample

A

Inferential Statistics

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12
Q

A college dean wants to determine the average semestral enrolment in the past 5 years

A

Descrptive Statistics

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13
Q

A chief nurse wants to predict the number of dengue patients for the next 2 years

A

Inferential Statistics

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14
Q

Consists of the totality of all the elements or entities from which you want to obtain information

A

Population

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15
Q

Refers to a portion or a subset of a population

A

Sample

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16
Q

Characteristic, description, or attribute of persons or objects which assume different values or labels

A

Variable

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17
Q

Yields categorical responses

A

Qualitative Variable

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18
Q

Yields Numerical responses

A

Quantitative Variable

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19
Q

Can assume only a countable number of distinct values. Can only be obtained through counting

A

Discrete Quantitative Variable

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20
Q

Can assume infinitely many values

A

Continuous Quantitative Variable

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21
Q

Can assume infinitely many values

A

Continuous Quantitative Variable

22
Q

“The PH Stock Exchange composite index list 7.19 points to 2,099.12 after trading between 2,095.30 and 2,108.47”

A

Textual Presentation

23
Q

United States……50.7890
Japan………0.4140
United Kingdom….72.547

A

Tabular Presentation

24
Q

A set of horizontal bars in a data presentation

A

Bar Graph (Graphical Presentation)

25
Q

A set of multiple horizontal graphs in a data presentation

A

Multiple Bar Graph (Graphical Presentation)

26
Q

A set of data displayed in a circle

A

Pie Chart (Graphical Presentation)

27
Q

Data presented as a series of points connected with a line

A

Line Chart (Graphical Presentation)

28
Q

The crudest form of data. This includes any data that is put into groups, in which there is no inherent order (i.e., Last Name, Gender, Civil Status)

A

Nominal Data

29
Q

The data are ranked or ordered in a somewhat bottom to top or high to low scheme (i.e., Scale of 1-5, highest to lowest)

A

Ordinal Data

30
Q

Numeric scales in which we know not only the order but also the exact differences between the values. (i.e., temperature, IQ Scores)

A

Interval Data

31
Q

They tell us about the order, the exact value between units, and they also have an absolute zero. (i.e., Income per Month, Age)

A

Ratio Data

32
Q

The data are obtained through observation for a particular time of occurrence or subject

A

Observation Method

33
Q

Data are obtained through cause-and-effect studies under controlled conditions

A

Experimental Method

34
Q

The data are obtained by asking necessary information in compliance with the policies or laws

A

Registration Method

35
Q

through the use of existing studies or published document

A

Archival Method

36
Q

the desired information is obtained through asking questions

A

Survey Method

37
Q

Two types of Survey Method

A
  1. Direct or personal Interview Method
  2. Indirect or Questionnaire Method
38
Q

Two classifications of Gathering Data

A
  1. Census
  2. Survey Sampling
39
Q

It is a method of gathering data from every unit of the population

A

Census

40
Q

A method of gathering data from every selected sample of a given population

A

Survey Sampling

41
Q

A survey sampling characteristic in which every element in the population has a known non-zero chance of being included in the sample selection

A

Probability Sampling

42
Q

A survey sampling characteristic that do not utilize random sampling procedure

A

Non-probability Sampling

43
Q

A probability sampling method in which every element in the population has an equal chance of being included in the sample

A

Simple Random Sampling

44
Q

A probability sampling method wherein the population is divided into subpopulation called strata, which consists of more or less homogeneous unit.

A

Stratified Random Sampling

45
Q

A probability sampling method which selects the sample by taking every kth unit from an ordered population

A

Systematic Sampling

46
Q

A probability sampling method in which the strata correspond to clusters. This is useful for bigger areas of conducting surveys

A

Cluster Sampling

47
Q

A probability sampling method wherein the population is divided into a sequence of sampling units corresponding to the different sampling stages

A

Mutli-stage Sampling

48
Q

Data given as individual data points

A

Ungrouped Data

49
Q

Data given in intervals

A

Grouped Data

50
Q

Defined as the average value of the data

A

Mean

51
Q

This is determined by finding either the middle element in the data or the average of the middle two elements

A

Median

52
Q

The value in a series of observations which occur with the greatest frequency

A

Mode

ETEEAP (4 decks)

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