Business Statistics Chapter 2

Z-score

A ___________ determines how far a particular value is from the mean relative to the data set's standard deviation

Histogram

A __________________ is a graphical summary of data previously summarized in a frequency distribution

Frequency Distribution

A summary of data that shows the number of observations in each of several nonoverlapping bins is called a(n)

Outlier

Any data value with a z-score less than -3 or great than +3 is considered to be a(n)

Time Series Data

Data collected from several entities over a period of time (minutes, hours, days, etc.)

68

For data having a bell=shaped distribution approximately __________ percent of the data values will be within one standard deviation of the mean

The variables are not linearly related

If covariance between two variable is near 0, it implies that

cumulative frequency distribution

The ________ shows the number of data items with values less than or equal to the upper class limit of each class

Sample Mean

The _________ is a point estimate of the population mean for the variable of interest

Random Sampling

The act of collecting data that are representative of the population data is called

Quantitative Data

The amount of time taken by each of 10 students in a class to complete an exam is an example of what type of data?

Between -1 and +1

The correlation coefficient will always take values

Variation in the data

The goal regarding using an appropriate number of bins is to show the

Categorical Data

The letter grades (A,B,C,D,F) of business analysis students are recorded by a professor. This variable's classification is

Range

The simplest measure of variability is the

Deviation about the mean

The variance is based on the

Relative Frequency

Which of the following gives the proportion of items in each bin?

Cross-sectional Data

type of data that are collected from several entities at the same point in time