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- Arkansas
- University of Arkansas - Fayetteville
- Business
- Business 1033
- Jensen
- Data Analysis: 1/18- 1/27
Data Analysis: 1/18- 1/27
Business 1033 with Jensen at University of Arkansas - Fayetteville
About this deck
By: Rachel Culp
Created: 2011-01-31
Size: 33 flashcards
Views: 42
Created: 2011-01-31
Size: 33 flashcards
Views: 42
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standard deviation
square root of the variance and possibly the most important statistical inference we will use
Ordinal Data
appear nominal but values have order like 1st, 2nd, 3rd place in race
inferential statistics
draw conclusions about characteristics of a population based on sample data
sigma
standard deviation for the population
mean
average
variance
a measure of variability
xbar
mean for the sample
interval data
real numbers
mode
most frequently occuring score
nominal data
categorical data
Sample
subset of the population ie all incoming freshmen to the WCOB in 2010
descriptive statistics
organizing, summarizing, and presenting data
Population
a group of all items of interest ie all incoming freshmen to the U of A in 2010
statistic
used to make inferences about parameters - describes a sample
median
exact middle score
confidence level
proportion of times an estimating procedure is correct
significance level
measures how frequently a conclusion will be wrong in the long run
range
the difference between the highest and lowest number in a data set
empirical rule
used to explain a distribution of scores when they are bell shaped
parameter
descriptive measure of a population
correlation
the covariance divided by standard deviation - shows how variables are linearly related
little s
standard deviation for the sample
Mu
mean for a population
Standard Error
the standard deviation of the sampling distribution
Central Limit Theorem
the sampling distribution of the mean of a random sample drawn from any population is approximately normal for a sufficiently large sample size. The larger the sample size, the more closely the sampling distribution of xbar will resemble a normal distribution
Finite Population Correction Factor
the standard error is where N is the population size
Standard Error of the Proportion
the standard deviation of P^
Point Estimator
draws inferences about a population by estimating the value of an unknown parameter using a single value or point
interval estimator
draws inferences about a population by estimating the value of an unknown parameter using an interval
Unbiased Estimator
estimator whose expected value is equal to a population parameter
Consistency
if the difference between the estimator and the parameter grows smaller as the sample size grows larger
Relatively Efficient
if there are two unbiased estimators of a parameter, the one whose variance is smaller is called
95% Confidence Interval Estimator of Standard Deviation
the resulting confidence interval estimator
About this deck
By: Rachel Culp
Created: 2011-01-31
Size: 33 flashcards
Views: 42
Created: 2011-01-31
Size: 33 flashcards
Views: 42
About StudyBlue
STUDYBLUE makes things that make you better at school.
Things like online flashcards with photos and audio.
Things like personalized quizzes and friendly reminders about when (and what) to study next.
Think of it as a digital backpack™: access to all of your study materials online and on your phone.
STUDYBLUE exists to make studying efficient and effective for every student, for free. Join us.
“I have used this website for three exams, and I see a huge difference in my test results.”
Naj
Naj