Important Prelim Terms Flashcards
How can a graph be misleading?
- no scale
- uneven scale
- not showing the correct position of zero
- only showing part of the scale
Categorical data
represented by quantities, words, or symbols
Numerical data
represented by quantities or numbers
Nominal data
cant be ordered
Ordinal data
can be ordered
Discrete data
counted separate values, gaps
Continuous data
smooth scale, no gaps
Sampling
- surveys a representative group of items from a population
- provides an estimate for approximate info about population
- simple and not expensive
Census
- surveys all items in pop
- provides exact info
- complex and expensice
systematic sample
a system is used to select items
stratified sample
population divided into characteristics, random sample from each
self selected sample
people choose to participate
class centre
the centre of a class interval (average of that category)
Histogram
- no gaps between columns
- half a column ap at the start
medicare
2% but normally will be specified
law of averages
as number of trials increases the relative frequency becomes closer to the theoretical probability
VAT
another word for GST in other countries
annual leave loading
holiday pay
usually 17.5% of 4 week salary
Government allowances and pensions
make sure to always check the criteria and make sure the individual fits
net pay
amount remaining after tax and other deductions
gross pay
the amount a person earns
allowable taxable income
if money is used for work-related purposes, donating to charity etc. this money is not taxed. The remaining amount is known as taxable income
when working out GST questions involving working out original price
treat it as more than 100 as 100 is original price
e.g. 35 divided by 110% times by 100 gives you 100%
sample space
all possible outcomes
