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A - Management spring > What is statistics? > Flashcards

What is statistics? Flashcards

1
Q

what is statistics?

A 
- brand of mathematics that deals with:
= data collection 
= summary 
= analysis 
= interpretation 
provides a bridge between the real world and the mathematical models that attempt to explain it, proving a metholdoy to assess discrepancies between reality and theoretical models
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2
Q

what is data?

A

raw form, doesn’t tell you anything without being manipulated in some way

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3
Q

what is informatio?

A

covered data, used by human reader

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4
Q

what is knowledge?

A

information that converted when users understood and internalises the info

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5
Q

what are the types of data?

A
  • numeric
  • text
  • visual
could be 
national level 
firm level 
product level 
individual level
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6
Q

what does population mean?

A

complete set of individuals, objects or scores of interest

e.g. studying an phenonomn in a population

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7
Q

what is the problem with studying the population?

A

for complete knowledge you have to study every indidivudal

  • too large
  • costs (time and money)
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8
Q

what is a sample?

A

subset of population, sample may be classed as random or convinence

they are representative fo the population

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9
Q

what is sample size?

A

number of individuals of the sample

population study conducted on samples drawn from it

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10
Q

what are the types of reasoning?

A

deductive
inductive
extrapolttion

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11
Q

what is deductive reaosning?

A

from general to particular

if premises are true in entire pool.ualtion then it garuntees they will be true for sample

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12
Q

what is inductive reasoning?

A

does not garuntee certainty of concussions, may be true for population, but it is the only way to generate new knowledge

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13
Q

what is extrapolation reasoning?

A

estimating/conculding by assuming that existing trends will continue ]

use specific details to make general conclusion
predict future outcomes based on known facts

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14
Q

what is the deductive process?

A 
deduction 
theory 
hypotheses 
observation 
confirmation
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15
Q

what is the inductive process?

A 
induction 
observation 
pattern 
hypotheses 
theory
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16
Q

what is sampling?

A

process of selecting elements elements included in a sample

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17
Q

what is sampling frame?

A

how you can get access

18
Q

what is theoretical sampling?

A

who do you want to generalise the study to

19
Q

what are the types of sampling?

A
  • random
  • non random
  • convienve
20
Q

what is random sampling?

A

indidivuduals randomly selected, same liklihood of being selected (equi probility)
done with replacement, each selection is independent of others

21
Q

what is non random sampling?

A

sample not random, some have higher chance of being picked than others

22
Q

what is convenience smapling/

A

people who are easy to reach or contact e.g. nearest people to you

23
Q

what is a variable?

A

symbol that can take on any specified set of values

characteirics of an item measured

24
Q

what are values?

A

results of measuring

25
Q

what are the two levels of measurement?

A

qualaititave

quantitative

26
Q

what are qualitative levels of measurement?

A
  • nominal
  • dichotomous
  • ordinal
27
Q

what are quantitative levels of measurement?

A
  • ratio

- interval

28
Q

what is nominal level of measurement?

A 
qual 
- no intrinsic order 
where numbers have no value 
- numbers used as tags 
- how are you feeling 
1 = good 
2 = bad 
- categories
29
Q

what is dichotomous measurement?

A

only two categories

yes / no

30
Q

what is ordinal measurement?

A
  • ranking or ordering

- without establishing the degree of variation between them

31
Q

what is ratio measurement?

A

has a meaningful zero

interval data

32
Q

what is interval data?

A

measured along a continuum
80-70 same as 40-30
the interval can be interpreted
no absolute zero

33
Q

what is dependant variable?

A

variable of primary interest not controlled by experiment (response)

34
Q

what is the independent variable?

A

manipulated in an experiment (predicto)

35
Q

what is a data table?

A

each column is a variable

each row is an indidivudal

36
Q

what is the statistical cycle/

A

cycle of events

  • research design
  • sampling
  • descriptive stats
  • inferential stats
  • prediction
37
Q

what is research design?

A

study begins with a previous design in whichh study goals population, variable and sample size are met

38
Q

what are descriptive stats?

A

describing and summarising the info of the sample

39
Q

what are inferential stats?

A

info obtained is projected on a mathematical model that intends to explain what happened ni population and the model is validated

40
Q

how is a prediction done?

A

validated model form infereteial statistics is used to make predictions and draw conclusions

A - Management spring (15 decks)

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