Chapter 2: Data Collection Flashcards
Observation
A single member of a collection of items that we want to study, such as a person, firm, or region
Variable
Characteristic of the subject or individual, such as an employee’s income or an invoice amount
Data set
Consists of all the values of the variables for all of the observations we have taken as a whole
Data
Used as a plural. Data usually are entered into a spreadsheet or database as an n x m matrix
Specifically, each column is a variable (m columns) and each row is an observation (n rows)
Univariate data sets
Data sets with one variable
Bivariate data sets
Data sets with two variables
Multivariate data sets
Data sets with more than two variables
Types of data - Categorical
Qualitative.
Values that are described by words rather than by numbers.
Verbal label such as vehicle type, pay type )car, truck , salary, hourly, etc) or coded (1, 2, 3 )
Types of data - Numerical
Quantitative.
Values that are described by numbers rather than words, such as counting, measuring something.
Discrete (ie. broken eggs in a carton, annual dental visits) or Continuous (patient waiting time or customer satisfaction percentages)
Coding
When values of categorical variable are represented using numbers.
Ie. 1 = cash 2 = check 3 = credit etc
Binary variables
Categorical variables that only have two values
Discrete
A variable with a countable number of distinct values
Continuous
A numerical variable that can have any value within an interval
Time series data
If each observation in the sample represents a different equally spaced point in time (years, months, days)
Periodicity
The time between observations
Cross- sectional data
If each observation represents a different individual unit (a person, firm, geographic area) at thee same point in time
Sample
A subset of the population that we will actually analyze
Population
All of the items that we are interested in