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Business Statistics2

Final Test

a statistic used to test a hypothesis. Test Statistic
if A and B are two events in a sample space, the union of A and B is the event containing all simple events in A or B or both Union
the variance of a set of n measurements is the average of the squares of the deviations of the measurements about their mean. Variance
Rejecting the null hypothesis when the null hypothesis is true. Type 1 Error
accepting the null hypothesis when the null hypothesis is false and some alternative to the null hypothesis is true Type 2 Error
the standard deviation of a set of n measurements is equal to the positive square root of the variance of the measurements. Standard Deviation
is a discipline that allows researchers to evaluate conclusions derived from sample data. They do it in the form of collecting data, interpreting and analyzing data, and access the reliability of conclusions based on sample data. Statistics
a plot of the pairs of values (x,y) on a rectangular coordinate system, used to assess the relationship between x and y. Scatter Diagram
is a measure of the "steepness" of the line, in the following format y = a + bx Slope
the range of a set of n measurements is the difference between the largest and smallest measurements Range
a procedure for sampling from a population in which (a) the selection of a sample unit is based on chance and (b) every element of the population has a known, nonzero probability of being selected. Random Sampling
a measure of the likelihood that the event will occur. Must have the following, range from 0 to 1 and sum of the probabilities is equal to 1 Probability
the smallest value of alpha for which test results become statistically significant. P-Value
Assume that the elements in a data set are rank ordered from the smallest to the largest. The values that divide a rank-ordered set of elements into 100 equal parts are called percentiles Percentile
A descriptive technique used to exhibit the way in which a single totally quantity is apportioned to a group of categories. Each category is assigned a sector of the circle according to the percentage of the total it represents. Pie Chart
a set of elements that represents all possible outcomes of a statistical experiment. Sample Space
the distribution curve of a frequency distribution. Ojive
one or more observations in a data set that are far in value from the body of the set. Outliers may come from a separate population or may result from sampling or recording errors. Outlier
the chances or likelihood of something happening or being the case Odds
values arranged in ascending order of magnitude Order Statistic
The mode of a set of n measurements is the value of x that occurs with the greatest frequency. The mode is not necessarily unique Mode
a set of n measurements is the value of x that falls in the middle when the measurements are arranged in order of magnitude Median
an average score, often denoted by X-bar. It is the sum of individual scores divided by the number of individuals Mean
In a statistical test of an hypothesis the statement of the hypothesis to be tested Null Hypothesis
If random samples of n observations are drawn from a population with finite mean and standard deviation, then when n is large, the sample mean will be approximately normally distributed with mean and standard deviation. Central Limit Theorem
A given B refers to the probability of occurrence of an event A given that another event B has occurred Conditional Probability
An interval computed from sample values Confidence Interval
A probability associated with a confidence interval that expresses the probability that the interval will include the parameter value under study Confidence Coefficient -
In a statistical test of an hypothesis the value of the test statistic that separates the rejection and acceptance regions Critical Value
The number of linearly independent observations in a set of n observations. The degrees of freedom are equal to n minus the number of restrictions placed on the entire data set Degrees of Freedom
The outcome of an experiment Event
In the theory of testing hypothesis the hypothesis that will be accepted as true if the null hypothesis, Ho, is proved false Alternative Hypothesis
the y intercept is the value of y when x equals zero, denoted as y = a + bx Y-Intercept
Any one of the numbers or values in a series dividing the distribution of the individuals in the series into ten groups of equal frequency Decile
A set of data is said to be discrete if the values / observations belonging to it are distinct and separate Discrete
in a multivariate distribution the probability of one variable taking a specific value irrespective of the values of the others Marginal Probability
The probability that two or more specific outcomes will occur in an event Joint Probability
A measure of the interdependence of two random variables that ranges in value from -1 to +1, indicating perfect negative correlation at -1, absence of correlation at zero, and perfect positive correlation at +1 Correlation Coefficient
A symmetric bell-shaped probability distribution of infinite range Normal
A probability distribution giving the probability of x, the number of successes observed during the n trials of a binomial experiment Binomial Distribution
A model for finding the probability of count data resulting from any experiment, where the count x represents the number of rare events observed in a given unit time or space Poisson
the sampling distribution of the t-statistic and is used whenever samples are drawn from populations possessing a bell-shaped distribution T-Distribution
distribution of all possible values of the F-Statistic depending on degrees of freedom F-Distribution
one that has a finite number of equally spaced and equally likely outcomes Discrete Uniform
distribution of all possible values for a single variance X^2-Distribution
he population of consists of N objects, consists of n objects all possible samples of n objects are equally likely to occur Standardized Random Sample
size of rejection region Alpha
Sample Mean X-Bar
Distribution function F(x)
function f(x)
estimate of slope B-Hat
is the standard deviation of sample means, or standard error of the mean Xsub(i)
expected value of a random variable X E(x)
sample correlation coefficient, based on all of the elements from a sample r
estimate of y-intercept A-Hat
variance of a sample S^2
coefficient of determination R^2
pooled variance S^2p
level of confidence with a confidence interval (1 - alpha)
Standardized score Z
sample size n
alternative hypothesis H1
null hypothesis H0
used to multivariate analysis of variance Triangle-Thingy(Lambda)
change in a something Other-O-Thingy(Delta)
simply a value by which of degrees of freedom for the test of F ratio ratio if multiplied Y-Thingy(Epsilon)
type 2 error B-Thingy(Beta)
standard deviation of a population O-Thingy(Sigma)
correlation coefficient P-Thingy(Rho)
population mean U-Thingy(mu)
Created by: jmdoore4