Chapter 2 Terms Flashcards
The collection of probabilities from the various outcomes possible in a situation
Event
Events that cannot occur simultaneously
Mutually exclusive events
Probability of an event occurring is 1 - the probability that the event will not occur
Compliment Rule
The symbol for the occurrence of something other than the event, A, in question
A^c
Symmetrical curve representing observed values relative to the mean
Standard Normal Distribution
Common term for Standard Normal Distribuiton
Bell-shaped Curve
Sum of the squared differences between values divided by the number of observations less 1 (n-1)
Variance
Square root of the variance represented by the symbol: theta
Standard Deviation
Central range within which 68.25% of values occur in a standard Normal distribution
+- 1 Standard Deviation
Central Range within which 95.44% of values occur in a standard Normal distribution
+- 2 Standard Deviation
Central Range within which 99.74% of values occur in a standard Normal Distribuion
+-3 Standard Deviation
Term defining increments of standard deviation located above or below the mean
z-score/z-value
Curve showing distribution values as non-symmetrical above/below the mean
Skewed Distribution
Curve in which the median is significantly different from the mean
Concentration of Values
Term referring to the distribution values above or below a given central portion of a distribuion
Tail
A value in a distribution that is substantially higher or lower than a defined central portion
Outlier
The highest and lowest values in a distribution expressed in the units of the research subjects
Range
Illustration comparing values of two variables that may be interrelated
Scatter plot or scatter diagram
Computer-calculated plot or graph estimating the relationship between two variables
Trend Line
Trend lines that model or forecast estimated values (past or future)using available data
Linear model
A formal mathematical proof of the Law of Large Numbers
Central Limits Theorem
Distribution of observed values in a sample often referred to as a “distribution”
Sampling Distribution
Estimated standard deviation likely among multiple samples
Sampling Error or Standard Error
Value of Sampling Error defining a range of variability relative to the selected confidence level
Margin of Error
