Chapter 1 Flashcards
A science dealing with the collection, analysis, interpretation, and presentation of numerical data is called statistics_____________.
Statistics
One way to subdivide the field of statistics is into the two branches
Descriptive, Inferential
A collection of persons, objects or items of interest is a
Population
Data gathered from a whole population is called a
Census
If a population consists of all the radios produced today in the Akron facility and if a quality control inspector randomly selects forty of the ratios, the group of forty is referred to as
Sample
If data are used to reach conclusions only about the group from which the data are gathered, then the statistics are referred to as
Descriptive
If data are gathered from a subgroup of a larger group and the data are used to reach conclusions about the larger group, then the statistics are said to be
Inferential
Another name for inferential statistics is
Inductive
Descriptive measures which are usually denoted by Greek letters are called
Parameters
A characteristic of any entity being studied that is capable of taking on different values is
Variable
When a standard process is used to assign numbers to particular attributes or characteristics of a variable, it is called
Measurement
Recorded measurements are
Data
The highest level of data measurement is
Ratio
The level of data measurement used when ranking items is
Ordinal
. If a number represents the geographic location of a business, then the level of data represented by the number is probably
Nominal
- If the data being gathered are only ordinal level data, then the researcher should only use statistics to analyze the data.
Nonparametric
The ages of managers of fast-food restaurants.
Ratio
An employee’s identification number.
Nominal
The number of freight cars per train for five hundred trains.
Ratio
The elevation of a town.
Interval
The number of feet it takes a car to stop going fifty miles per hour.
Ratio
The number of ounces of orange juice consumed by each Floridian in the morning.
Ratio
The volume of wheat in each silo in Nebraska in August.
Ratio
A rating scale of the productivity of each worker which has as its adjectives: very poor, poor, average, good, outstanding.
Ordinal
A person’s religious preference.
Nominal
Weights of statistics’ textbooks.
Ratio
Years of experience on the job.
Ratio
Number representing a worker’s assignment to the red team, blue team, or green team at work where the red team is considered the top workers, the green team is considered the least productive workers, and the blue team is for workers in the middle.
Ordinal
____________________ is the application of processes and techniques that transforms raw data into meaningful information to improve decision-making.
Business Analytics
A collection of large and complex datasets from different sources that are difficult to process using traditional data management and processing applications is referred to
as _________________.
Big Data
The collecting, exploring, and analyzing of large volumes of data in an effort to uncover hidden patterns and/or relationships that can be used to enhance business decision-making is ______________________.
Data Mining
The study of the visual representation of data intended to convey data or information by imparting it as visual objects displayed in graphics is called
Data Visualization
