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Business Statistics I > Chapter 2.0 > Flashcards

Chapter 2.0 Flashcards

1
Q

Tabular summary of data showing the number (frequency) of observations in each of several nonoverlapping categories or classes.

A

Frequency Distribution

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2
Q

The fraction or proportion of observations belonging to a class.

A

Relative Frequency

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3
Q

Tabular summary of data showing the relative frequency for each class.

A

Relative Frequency Distribution

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4
Q

The relative frequency multiplied by 100.

A

Percent Frequency

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5
Q

Tabular summary of data showing the percent frequency for each class.

A

Percent Frequency Distribution

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6
Q

Graphical display for depicting categorical data summarized in a frequency, relative frequency, or percent frequency distribution.

A

Bar Chart

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7
Q

Graphical display for depicting categorical data summarized in a relative frequency or percent frequency distribution.

A

Pie Chart

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8
Q

Frequency of the class / n, where n = the total number of observations in the data set.

A

Equation for Relative Frequency

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9
Q

What is the equation for relative frequency?

A

Frequency of the class / n, where n = the total number of observations in the data set.

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10
Q

Are the bars separated or adjacent in a bar chart?

A

Separated

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11
Q

Are the bars separated or adjacent in a histogram?

A

Adjacent

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12
Q

Is a bar chart used for categorical or quantitative data?

A

Categorical

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13
Q

Is a histogram used for categorical or quantitative data?

A

Quantitative

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14
Q

What does the horizontal axis of a bar chart or histogram show?

A

Classes/categories

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15
Q

What does the vertical axis of a bar chart or histogram show?

A

Frequency, relative frequency, or percent frequency

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16
Q

What are the three steps in defining the classes for a frequency distribution with quantitative data?

A
  1. Determine the number of nonoverlapping classes.
  2. Determine the width of each class.
  3. Determine the class limits.
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17
Q

(Largest data value - Smallest data value) / Number of classes

A

Equation to approximate the class width for a frequency distribution with quantitative data.

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18
Q

What is the equation to approximate the class width for a frequency distribution with quantitative data?

A

(Largest data value - Smallest data value) / Number of classes

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19
Q

A simple graphical summary of quantitative data where each data value is represented by a dot placed above the horizontal axis.

A

Dot Plot

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20
Q

Graphical display for depicting quantitative data summarized in a frequency, relative frequency, or percent frequency distribution.

A

Histogram

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21
Q

The ______ ______ determine the width of the rectangles of a histogram.

A

Class Limits

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22
Q

One of the most important uses of a histogram is to provide information about the shape, or form, of a ______.

A

Distribution

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23
Q

If a histogram’s tail extends farther to the left, it is ______ to the ______.

A

Skewed to the left

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24
Q

If a histogram’s left tail mirrors the shape of the right tail, is is a _______ histogram.

A

Symmetric

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25
Q

Tabular summary of quantitative data showing the number of data items with values less than or equal to the upper class limit of each class.

A

Cumulative Frequency Distribution

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26
Q

Tabular summary of quantitative data showing the proportion of data items with values less than or equal to the upper class limit of each class.

A

Cumulative Relative Frequency Distribution

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27
Q

Tabular summary of quantitative data showing the percentage of data items with values less than or equal to the upper class limit of each class.

A

Cumulative Percent Frequency Distribution

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28
Q

Graphical display used to show simultaneously the rank order and shape of a distribution of quantitative data.

A

Stem-and-Leaf Display

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29
Q

In a stem-and-leaf display, the numbers to the left of the vertical line form the ______.

A

Stem

30
Q

In a stem-and-leaf display, each digit to the right of the vertical line is a ______.

A

Leaf

31
Q

What are 3 methods to summarize data for a categorical variable in a table?

A

Frequency Distribution
Relative Frequency Distribution
Percent Frequency Distribution

32
Q

What are 2 methods to summarize data for a categorical variable in a graphical display?

A

Bar Chart

Pie Chart

33
Q

What are 6 methods to summarize data for a quantitative variable in a table?

A

Frequency Distribution
Relative Frequency Distribution
Percent Frequency Distribution
Cumulative Frequency Distribution
Cumulative Relative Frequency Distribution
Cumulative Percent Frequency Distribution

34
Q

What are 3 methods to summarize data for a quantitative variable in a graphical display?

A

Dot Plot
Histogram
Stem-and-Leaf Display

35
Q

What are 5 graphical displays used to show the distribution of data?

A 
Bar Chart
Pie Chart
Dot Plot
Histogram
Stem-and-Leaf Display
36
Q

What are 2 graphical displays used to make comparisons?

A

Side-by-Side Bar Chart

Stacked Bar Chart

37
Q

What are 2 graphical displays used to show relationships?

A

Scatter Diagram

Trendline

38
Q

Graphical display showing the relationship between two quantitative variables.

A

Scatter Diagram

39
Q

A _____ provides an approximation of the relationship between two quantitative variables displayed in a scatter diagram.

A

Trendline

40
Q

What are 3 types of relationships a trendline can show on a scatter diagram?

A

Positive
Negative
No Apparent

41
Q

Graphical display depicting multiple bar charts on the same display to compare two variables.

A

Side-by-Side Bar Chart

42
Q

A bar chart in which each bar is broken into rectangular segments of a different color to compare two variables and show the relative frequency of each class.

A

Stacked Bar Chart

43
Q

The use of graphical displays to summarize and present information about a data set.

A

Data Visualization

44
Q

The art and science of collecting, analyzing, presenting, and interpreting data.

A

Statistics

45
Q

The scientific process of transforming data into insight for making better decisions.

A

Analytics

46
Q

A set of data that cannot be managed, processed, or analyzed with commonly available software in a reasonable amount of time.

A

Big Data

47
Q

The process of using procedures from statistics and computer science to extract useful information from extremely large databases.

A

Data Mining

48
Q

The entities on which data are collected.

A

Elements

49
Q

A characteristic of interest for the elements.

A

Variable

50
Q

The set of measurements obtained for a particular element.

A

Observation

51
Q

Type of data that uses labels or names to identify an attribute of each element.

A

Categorical Data

52
Q

Type of data that uses numeric values to indicate how much or how many of something.

A

Quantitative Data

53
Q

The scale of measurement for a variable when the data are labels or names used to identify an attribute of an element.

A

Nominal

54
Q

The scale of measurement for a variable when the data exhibit the properties of nominal data and the order or rank of the data is meaningful.

A

Ordinal

55
Q

The scale of measurement for a variable when the data exhibit the properties of ordinal data and the interval between values is expressed in terms of a fixed unit of measure.

A

Interval

56
Q

The scale of measurement for a variable when the data exhibit the properties of interval data and the ratio of the two values is meaningful (i.e. there is a meaningful zero).

A

Ratio

57
Q

The set of all elements of interest in a particular study.

A

Population

58
Q

A subset of the population.

A

Sample

59
Q

A survey to collect data on the entire population.

A

Census

60
Q

A survey to collect data on a sample.

A

Sample Survey

61
Q

The set of analytical techniques that describe what has happened in the past.

A

Descriptive Analytics

62
Q

The set of analytical techniques that use models constructed from past data to predict the future or assess the impact of one variable on another.

A

Predictive Analytics

63
Q

The set of analytical techniques that yield a best course of action.

A

Prescriptive Analytics

64
Q

Tabular, graphical, and numerical summaries of data.

A

Descriptive Statistics

65
Q

The process of using data obtained from a sample to make estimates or test hypotheses about the characteristics of a population.

A

Statistical Inference

66
Q

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

A

Data

67
Q

All the data collected in a particular study.

A

Data Set

68
Q

Data collected at the same or approximately the same point in time.

A

Cross-sectional Data

69
Q

Data collected over several time periods.

A

Time Series Data

70
Q

A set of visual displays that organizes and presents information that is used to monitor the performance of a company or organization in a manner that is easy to read, understand, and interpret.

A

Data Dashboard

71
Q

The value halfway between the lower and upper class limits.

A

Class Midpoint

Business Statistics I (5 decks)

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