Test 1.1 cheat sheet

Test 1.1 cheat sheet - Population - The collection of all...

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P opulation - The collection of all outcomes, responses, measurements, or counts that are of interest. S ample - A subset of the population Ex A survey of 1000 US adults found that 92% are worried about dependence on foreign oil. Population: collection of all US adults. Sample: collection of the 1000 US adults sampled. Ex A study of 146 credit cards found that the average late fee is $27.46. Population: collection of all credit cards. Sample: collection of 146 credit cards that were sampled. P arameter - A number that describes a p opulation characteristic. S tatistic - A number that describes a s ample characteristic. Ex In a recent study of math majors at a university, 10 students were minoring in physics. It’s a parameter because 10 students are describing a characteristic of a population. Ex the average late fee of $27.46 charged by the credit cards is a rep of descriptive stats. An inference drawn from the sample is that all credit cards charge a late fee of $27.46 Qualitative Data - Consists of attributes, labels, or nonnumeric entries Quantitative data - Numerical measurements or counts. Ex The monthly salaries of the employees at an accounting firm. Quantitative. Ex The ages of a sample of 350 employees of a software company. Quantitative. Ex SS#’s is Qualitative. Ex The zip codes of a sample of 350 customers as a sporting goods store. Qualitative. Nominal - (a) Qualitative data only (b) Categorized using names, labels, or qualities (c) No mathematical computations can be made. Ordinal - (a) Qualitative or quantitative data (b) Data can be arranged in order (c) Differences between data entries is not meaningful. Interval -
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Test 1.1 cheat sheet - Population - The collection of all...

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