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Unformatted text preview: ordinal data inferential statistics descriptive statistics ratio data nominal data the order values is meaningful but the difference
between values is not meaningful.
ex)12th,3rd,6th. or 1=winner, 2=runner up you use the sample results to infer something
about the population describe the sample and quit. the word "twice" makes sense. and a value of zero
means it does not exist. ex) height or weight the weakest data and represents a category. ex)
1=male 2=female interval data discrete data continuous data trend seasonality the difference between values is meaningful.
ex)temp. NO DECIMAL POINT. when you're counting
something. ex)how many textbooks did you
purchase this semester? HAVE DECI MAL POINTS. when you're
measuring something. ex) what is your height? the longterm growth or decline in the time
series,usually follows a straight line. predictable variation within a year, only exists for
monthly or quarterly data 1)interval data quantltatlve gram) data
. . 1)nominal data
qualltatIVe 2)ordinal data
samples provide a better representation of the population. what is left over after measuring the seasonal, Irreglﬂar aCtIVlty/ 110186 trend, and cyclical activity. describes the population. usually represented by parameter the greek symbol M (mu) statistic the sample average. stem and leaf graph the leaf unit sets the decimal.
frequency pOlngIl a graph that represents the shape of the data.
ogive a plot of cumulative relative frequencies measures of central tendency mean, median, midrange, and mode measures Of variation range, variance, standard deviation, CV measures Of position percentiles, quartiles, zscores
measures of shape skewness
what are the two areas of statistics? 1)descriptive 2)inferential
1)discrete sample data 2)continuous CCDSUS weakest data strongest data graphs that associate with quantitative data graphs that associate with qualitative data a sample that consists of the entire population nominal(a category)
ordina1(ranks)
interval(djfferences are meaningful) ratio(the word "twice" makes sense) histogram, frequency polygon, ogive, steam and
leaf. bar chart, and pie chart pie chart descriptive measures skewness kurtosis the empirical rule for applications where you are dividing
something into pieces, this chart works better. central tendency, variation, position, and shape a measure of symmetry in the sample
values(histogram) a measure of how peaked the sample histogram is usually works, does have an assumption about
the population. chebyshev's inequality times series data times series components curvilinear trend two types of seasonal variation always works, typically very conservative. annual(1 value each year), quarterly(4 values
each year), monthly( 12 values each year) trend, cyclic, seasonality, irregular/ noise. also called quadratic trend. 1) additive seasonality
2) multiplicative seasonality cyclical variation additive seasonality multiplicative seasonality measuring cyclic activity trend line values nonseasonal movement about the trend. the SUM of its four components the PRODUCT of its four components annual data. there is no way to separate out the
noise component but it can be reduced when
using monthly or quarterly data. contain trend only index numbers price index aggregate price index simple aggregate price index consumer price index measures the change in an item across two or
more time periods compares prices from one year to a past year,
referred to as the base year compares prices for more than one item for one
year to the base year this index do not consider the quantity of each
item that is typically purchased each year. the most famous Laspeyres index. laspeyres index paasche index outliers pie chart histogram the quantities for the base year the quantities for the reference year are values in the sample data set often used to summarize a small number of
categories of nominal data it is NOT possible to retrieve original data from
this graph. it IS possible to retrieve original data from this stem and leaf diagram h
grap is a single number computed from the sample descrlptlve measure data that provides information about the data midrange in a data set outliers do affect it. what kind of variation represents an oscillating .
movement about the overall trend in time series cychcal
data. cyclical variation represents an oscillating movement about the overall __in time series trend annual data do not have a seasonal component pearson's measure of skewness ranges from 3 t0 3 ...
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 Fall '11
 Pavur
 Consumer price index, Level of measurement

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