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Study these flashcards

- Pennsylvania
- Drexel University
- Business Statistics Final

Dillon B.

• 88

cards
Nominal

In regards to a measurement scale, a data set for residential houses defining pool or no pool would be:

Mean and Median

Which of the following is a measurement of the central therom?

Mean

Between Mean and Median, which one is more affected by outliers

Diminishing Returns

decreasing in the marginal (per unit) output production and increasing of single factor, while all other amounts stay the same

Break even point

Indifferent, when forcasted revenue exactly equals the estimated total costs

Reducing Sampling Error

This gives you a better chance for accuracy with avoiding sampling error

(ALL)

Sampling is more cost effective

Sampling is more timely

Sampling is more practical

Sampling is more cost effective

Sampling is more timely

Sampling is more practical

Define the objective of the survey

Stratified Sampling (levels)

Sampling

Mutually Exclusive

Standard and Poors

Qualitative

Quantitative

Ordinal

Systematic Sampling

Sample

Standard Deviation

Simple Random Sample

Zscore

The mean

Standard Deviation

S.D. uses the same base units, we take the square root of variance to compute deviation.

Collectively Exhaustive

Random Variable

Continuous

Discrete

Each observation is dependent upon previous observations

Poisson Distribution

0 and 1

Normal distribution

Smaller

Assume Normal Distribution

Zscore

Binomial Dist.

Decreases

Poisson Distribution

Random variable

Binomial Distribution

T distribution

Degrees of freedom

Number of Independent observations

T Distribution

T Test: Margin of Error

.05: 1-.95=.05

48: 49-1=48

Standard Error for proportions

Standard Error Decreases

False

-2.5

Mutually Exclusive

Collectively exhaustive

Collectively exhaustive

Ho

2

Increase sample size

Simple random sample

Increases;decreases

Central Limit Theorem

Sampling Error

Systematic Sample

True

+- ta/2

Critical Value

Reduced sampling error

F-test

T-test

Binary

Poisson

Outlier

Hypothesis testing for the mean

Two Sample T-test

Distribution Test

Left has a lower mean

F-Test for variance equality

Normal Distribution

PValue

Alpha

.0423 (Pvalue)

Correlation Coefficient

Variance

Statistical Inference

Diminishing returns

Steps in taking a sample

Dispersion

Collectively Exhaustive

Mutually Exclusive

Discrete

Continuous

Binomial Distribution

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