General Business 303: Business Statistics
2005
Review for Exam I
(Chapters 1 – 6)
You may bring one 3” x 5” index card with whatever you want written on it.
Please note:
I have tried to summarize the main points, but this may be incomplete!!!
************************************************************************
I.
Terms to understand:
All the terms at the end of each chapter, for example,
Population vs. sample
Parameter vs. statistic
Descriptive vs. inferential statistics
Qualitative vs. quantitative variable
Random Variable
Primary and secondary sources of data
Chebyshev’s Theorem
Coefficient of variation
Discrete vs. continuous variables
Random variables
Empirical rule
Shape, center and spread
Geometric Mean
Point estimate
Normal distribution
Covariance
Coefficient of correlation
Population proportion
Complement of an event
Conditional probability
Independent vs. mutually exclusive
Subjective probability
Probability distribution
Binomial distribution
Expected value
The standard normal distribution
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 Spring '08
 MULLINS
 Normal Distribution, Standard Deviation, Probability theory, d., Five years, five year

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