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Class: MGMT 3101 - Applied Business Statistics; Subject: Management; University: Georgia College & State University; Term: Fall 2010;
Typology: Quizzes
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In statistics, a sample is a subset of a population. TERM 2
DEFINITION 2 Exploration Research Design Conclusion TERM 3
DEFINITION 3 Exploration: Theory Attitudes Beliefs Perception Observation TERM 4
DEFINITION 4 Problems or Opportunity TERM 5
DEFINITION 5 Research: Hypothesis
Design: Measurement Method Sales, Questions, Observations Data Gathering Tests TERM 7
DEFINITION 7 Conclusion: Employment Reality TERM 8
DEFINITION 8 Management Summary TERM 9
DEFINITION 9 In mathematics, a random variable (or stochastic variable) is a way of assigning a value (often, a real number) to each possible outcome of a random event. Therefore, the mean does not equal Mu (u). TERM 10
DEFINITION 10 Statistical inference is the process of drawing conclusions from data that are subject to random variation, for example, observational errors or sampling variation. (all about the distance mean- Mu=0)
In probability theory, the central limit theorem (CLT) states conditions under which the mean of a sufficiently large number of independent random variables, each with finite mean and variance, will be approximately normally distributed. TERM 17
DEFINITION 17 In statistics, point estimation involves the use of sample data to calculate a single value (known as a statistic) which is to serve as a "best guess" for an unknown (fixed or random) population parameter. TERM 18
DEFINITION 18 the central limit theorem enables sample distribution of the mean to be approximated by a normal probability distribution. TERM 19
DEFINITION 19 we assumepopulation has normal probability distribution TERM 20
DEFINITION 20 Distribution of the sample means will be approximately normally distributed
each sample has the same chance of beig selected TERM 22
DEFINITION 22 1/N or the Random Number Generator TERM 23
DEFINITION 23
DEFINITION 24 Ongoing Process that makes listing or counting every element impossible TERM 25
DEFINITION 25 Population is divided into "groups" of elements called, strata
is heterogeneous within, and the same across. Represents a "mini population" TERM 32
DEFINITION 32 Close proximity can be cost effective TERM 33
DEFINITION 33 Study of Student Habits TERM 34
DEFINITION 34 Government Surveys TERM 35
DEFINITION 35 Systematic sampling is a statistical method involving the selection of elements from an ordered sampling frame. Select every "pth" element; random start.
Method has a proportion of Simple Random Sampling ecspecially if the list of the population elements are a random variable TERM 37
DEFINITION 37 Accidental sampling is a type of nonprobability sampling technique which involves the sample being drawn from that part of the population which is close to hand. Sample is identified primarily by covenience. TERM 38
DEFINITION 38 Advantage: Sample selection and data collection are relatively easy. Disadvantage: It is impossible to determine how much of a representative of the population the sample is TERM 39
DEFINITION 39 Must be knowledgeable on the subject of the study of selecting sample elements; it is a nonprobability sampling technique. TERM 40
DEFINITION 40 population
The margin of error is a statistic expressing the amount of random sampling error in a survey's results. Distance * Width TERM 47
DEFINITION 47 Standard deviation (is in units)of the sampling distribution of the mean (it's normally distributed) Width TERM 48
DEFINITION 48 Confidence intervals take the same form; normally distributed TERM 49
DEFINITION 49 more spread TERM 50
DEFINITION 50 degrees of freedom
As a sample size goes up it gets closer and closer to z TERM 52
DEFINITION 52 number of standard deviations away from the mean TERM 53
DEFINITION 53 Standard deviation of the proportion TERM 54
DEFINITION 54 You have to have a large binomial from a large sample or the number will be skewed TERM 55
DEFINITION 55 Variable Examples: MPH, Height, Weight
What we think Mu is TERM 62
DEFINITION 62 If distance is so great the two cannot be the same (statistically)-reject null TERM 63
DEFINITION 63 Do this by comparing calculated values (Zcalc--------------
Zcrit) Form a boundary beyond which lies the rejection region TERM 64
DEFINITION 64 distance in units TERM 65
DEFINITION 65 alpha
Tentative assumption about a population parameter (Ho) TERM 67
DEFINITION 67 Not a tentative assumption about a population parameter (Ha) TERM 68
DEFINITION 68
DEFINITION 69 Mean and Probability TERM 70
DEFINITION 70
always be used, whether it's a large n or small n TERM 77
DEFINITION 77 Alpha (level of significace)-the probability were wrong TERM 78
DEFINITION 78 Zcalc>Zcrit TERM 79
DEFINITION 79 -Zcalc TERM 80
DEFINITION 80 Either: Zcalc>Zcrit OR -Zcalc
Area TERM 82
DEFINITION 82 probability of getting Z or t calc greater than the null (right tail test) When the p-value is smaller than alpha (spreads further from the mean) you can reject the hypothesis, because it's in the rejection region. TERM 83
DEFINITION 83 It's in the numerator
