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Class:MATH 2345 - Introduction to Statistics with Application to Business
Subject:MATHEMATICS
University:Texas Tech University
Term:Spring 2010
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Descriptive statistics collecting, summarizing, and describing data
Inferential statistics drawing conclusions and/or making decisions concerning a population based only on sample data
summary table indicates the frequency, amount, or percentage of items in a set of categories so that you can see differences between categories
Bar charts and Pie charts are often used for categorical data
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Pareto Chart A Pareto chart, named after Vilfredo Pareto, is a type of chart which contains both bars and a line graph. Used to portray categorical data (nominal scale) Used to separate the “vital few” from the “trivial many”
Ordered Array a sequence of data, in rank order, from the smallest value to the largest value Shows range (minimum value to maximum value) May help identify outliers (unusual observations)
Stem-and-Leaf Display A simple way to see how the data are distributed and where concentrations of data exist
frequency distribution a summary table in which the data are arranged into numerically ordered classes.
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Cross Tabulations A cross tabulation (often abbreviated as cross tab) displays the joint distribution of two or more variables.
cross-classification (or contingency) table presents the results of two categorical variables. The joint responses are classified so that the categories of one variable are located in the rows and the categories of the other variable are located in the columns.
Scatter plots A scatter plot is a type of mathematical diagram using Cartesian coordinates to display values for two variables for a set of data. used to examine possible relationships between two numerical variables
central tendency the extent to which all the data values group around a typical or central value
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variation the amount of dispersion, or scattering, of values
shape the pattern of the distribution of values from the lowest value to the highest value
continuous random variable variable that can assume any value on a continuum (can assume an uncountable number of values)
Standardized Normal Any normal distribution (with any mean and standard deviation combination) can be transformed into the standardized normal distribution (Z)
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Dependent variable the variable we wish to predict or explain
Independent variable the variable used to predict or explain the dependent variable
coefficient of determination the portion of the total variation in the dependent variable that is explained by variation in the independent variable
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 Descriptive statisticscollecting, summarizing, and describing data
 Inferential statisticsdrawing conclusions and/or making decisions concerning a population based only on sample data
 summary tableindicates the frequency, amount, or percentage of items
in a set of categories so that you can see differences between categories
 Bar charts and Pie charts are often used forcategorical data
 Pareto ChartA Pareto chart, named after Vilfredo Pareto, is a type of chart which contains both bars and a line graph.

Used to portray categorical data (nominal scale)

Used to separate the “vital few” from the “trivial
many”
 Ordered Arraya sequence of data, in rank order, from the smallest value to the largest value

Shows range (minimum value to maximum value)

May help identify outliers (unusual observations)
 Stem-and-Leaf DisplayA simple way to see how the data are distributed and where concentrations of data exist
 frequency distributiona summary table in which the data are arranged into numerically ordered classes.
 Cross TabulationsA cross tabulation (often abbreviated as cross tab) displays the joint distribution of two or more variables.
 cross-classification (or contingency) tablepresents the results of two categorical variables. The joint responses are classified so that the categories of one variable are located in the rows and the categories of the other variable are located in the columns.
 Scatter plotsA scatter plot is a type of mathematical diagram using Cartesian coordinates to display values for two variables for a set of data.

used to examine possible relationships
between two numerical variables
 central tendencythe extent to which all the data values group around a typical or central value
 variationthe amount of dispersion, or scattering, of values
 shapethe pattern of the distribution of values from the lowest value to the highest value
 continuous random variablevariable that can assume any value on a continuum (can assume an uncountable number of values)
 Standardized NormalAny normal distribution (with any mean and standard deviation combination) can be transformed into the standardized normal distribution (Z)
 Dependent variablethe variable we wish to predict or explain
 Independent variablethe variable used to predict or explain the dependent variable
 coefficient of determinationthe portion of the total variation in the dependent variable that is explained by variation in the independent variable
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