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Definition
| focuses on collection, summarization, and characterization of a set of data |
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Definition
| the science that processes and analyzes data in order to provide managers with the useful info to aide in the decision making process |
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Definition
| deal with drawing conclusions and/or making decisions concerning a population based only on sample data |
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Definition
| all items under consideration |
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Definition
| descriptors of a population |
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Term
| Characteristics of Population Parameters |
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Definition
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Definition
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Definition
| Numeric; descrete & continuous |
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Definition
| integers; countalbe in most cases |
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Definition
| not always whole numbers; measurement |
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Definition
| nominal, ordinal, interval, ratio |
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Term
Qualitative (nominal & ordinal) |
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Definition
nominal- simpliest form; name; category ordinal- order |
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Quantitative (interval, ratio) |
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Definition
interval- amount of difference between categories ratio- numeric data with a fixed logical zero point |
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Term
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Definition
open objects in that population has the same chance of being selected |
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Definition
| a summary tabel in which the data are arranged into conveniently established numerically ordered class, groupings, or categories |
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Definition
| groups are mutually exclusive if and only if an object may be placed in only one group |
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Definition
| groups are collectively exhaustive if and only if there is a group for every possible object |
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Definition
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Definition
| separates the lowest 25% of observations from the upper 75% of observations |
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Definition
| separates the lowest 50% of observations from the upper 50% of observations |
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Term
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Definition
| separates the lowest 75% of observations from the upper 25% of observations |
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Term
Cumulative Relative Frequency |
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Definition
| the percentage of observations below the lower boundary of each class |
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