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Colin P.

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Why would an accountant use statistical data?

Accounting- Used for statistical sampling procedures when conducting audits for clients

Why would an economist use statistical data?

Why would a marketing team use statistical data?

Electronic point of sale scanners at retail check-out points are used to collect data for a variety of marketing research applications

How would statistical data be useful for production?

A variety of statistical quality control charts are used to monitor the output of a production process

How is statistical information useful in finance?

Financial advisors use price earnings ratios and dividend yields to guide their investment reccomendations

What is data?

The facts and figures collected, summarized, analyzed and interpreted

What is a data set?

What are elements?

What is a variable?

What is an observation?

How do you find the total number of data values in a complete data set?

Name four scales of measurement

What does the scale determine?

What does the scale indicate?

What are the characteristics of nominal data?

What are the characteristics of ordinal data?

What are the characteristics of interval data?

What are the characteristics of ratio data?

There are more alternatives for statistical analysis when the data is...

What are the characteristics of qualitative data?

What are the characteristics of quantitative data?

How many types of ways can qualitative data be classified?

How many types of ways can quantitative data be classified?

What is cross-sectional data?

What is time series data?

Identify two potential sources of data?

What are the two types of statistical studies?

What are the characteristics of an experimental study?

What are the characteristics of an observational study?

Name the three data acquisition considerations

What are descriptive statistics

What is the most common numerical descriptive statistic?

What is a population?

What is a sample?

What is statistical inference?

What is a census?

What is a sample survey?

What is the typical size of data used for statistical analyses?

What are five ways to summarize qualitative data?

What is a frequency distribution?

What is a relative frequency and a relative frequency distribution?

What is a percent frequency distribution?

What is a bar graph?

What is a pie chart?

What are five ways to summarize quantitative data?

What are the guidelines for selecting the number of classes?

What are the guidelines for selecting the width of classes?

What is a histogram?

Whats the difference between a symmetric, skewed left, and skewed right histogram?

Describe the three types of cumulative distributions

What are two methods for summarizing the data for two variables simultaneously?

Describe crosstabulation

Describe a scatter diagram

What is a trendline?

What are sample statistics

What are population parameters?

What is a point estimator?

Name the five measures of location

What is the mean

What is the median?

What is the mode?

Why are percentiles used?

How is the percentile defined?

How do you find percentiles?

What is a quartile

What are the five measures of variability?

What is the range?

What is the simplest measure of variability?

What is the interquartile range?

What is the variance?

What is standard deviation?

What is the coefficient of variation?

An important measure of a distribution's shape is the

What is the relationship between the mean and median when a distribution is symmetric?

What are the charecteristics of a skewed left distribution?

What are the characteristics of a skewed right distributuion?

What is the z-score?

What would a data value with a z-score less than 0 mean and vice versa?

What does Chebyshev's Theorem say?

What is the Empirical Rule?

What is an outlier?

What are possible causes of outliers?

What are two types of exploratory data analysis?

What are the components of the five number summary?

What is a box plot

How do we locate the limits on a box plot?

What are the two measures of association between two variables?

What is the correlation coefficient?

What do the values of the correlation coefficient indicate?

What three points are needed for statistical measure?

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