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Stats Review Guide 1-5

Stats Review Guide 1-5 - CHAPTER ONE Section 2 Data(5 Data...

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CHAPTER ONE Section 2: Data (5) Data: all facts and figured collected, analyzed, and summarized for presentation and interpretation Elements: entities on which data are collected (first column) Variable: a characteristic of interest for the elements Nominal scale: Labels or names are used to identify an attribute of an element, numeric codes included as well if they identify a location Ordinal scale: if the data exhibit the properties of nominal data and the order or rank of the data is meaningful. BusinessWeek’s Top 500 companies (ranked) Ratio scale: if the data have all the properties of interval data and the ratio of the two values is meaningful. Distance, height, weight, etc. Zero value exists (means nothing). Qualitative data: include labels or names used to identify an attribute of each element. Nominal or ordinal scale, numeric or nonnumeric. Quantitative data: require numeric values that tell you how much or how many. Interval or ratio scale of measurement. Cross-sectional data: collected at same time Time-series data: collected over several time periods Section 4: Descriptive Statistics (13) Descriptive statistics: Summaries of data presented in a form that is easy for the reader to understand. May be tabular, graphical, or numerical. Section 5: Statistical Inference (15) Population: The set of all elements of interest in a particular study. Sample: A subset of a population. Census: collecting data for an entire population Sample survey: conducting a survey to collect data for a sample Statistical inference: using data from a sample to make estimates and test hypotheses about the characteristics of a population

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Summary (17) Statistics: the art and science of collecting, analyzing, presenting, and interpreting data CHAPTER TWO Section 1: Summarizing Qualitative Data (28) Frequency Distribution: a tabular summary of data showing the number (frequency) of items in each of several non-overlapping classes – example below Soft Drink Frequency Coke 19 Sprite 17 Dr. Pepper 14 Total 50 Relative frequency: Frequency of the class / n Percent frequency: relative frequency * 100 Relative frequency distribution: tabular summary of data showing the relative frequency for each class Percent frequency distribution: summarizes the percent frequency of the data for each class Soft Drink Relative Frequency Percent Frequency Coke .38 38 Sprite .34 34 Dr. Pepper .28 28 Total 1 100 Bar graph: graphical device for depicting qualitative data summarized in a frequenc distribution. Horizontal axis: categories. Pie chart: another graphical device for depicting qualitative data Section 2: Summarizing Quantitative Data (34) Defining the classes: three steps 1. Determine the number of nonoverlapping classes – between 5 and 20 2. Determine the class width (Largest value – smallest value / # classes) 3. Determine the class limits Lower class limit: smallest possible data value assigned to that class
Upper class limit: largest Class midpoint: the value halfway between the lower and upper class limits Ogive: a graph of cumulative distribution

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Stats Review Guide 1-5 - CHAPTER ONE Section 2 Data(5 Data...

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