Comprehensive Review for BAN 280 Exam 1
Descriptive Statistics - correct answer ✔✔collecting, summarizing, visualizing, presenting, and analyzing
data
Inferential statistics - correct answer ✔✔Using data collected from a small group to draw conclusions
about a larger group
Population - correct answer ✔✔Large Group
Sample - correct answer ✔✔Small group
Census - correct answer ✔✔When you have data on every member of the population
A good sample is - correct answer ✔✔Representative, random, good size
Parameter - correct answer ✔✔A numerical number that summarizes POPULATION data
(unknown/estimate)
Statistic - correct answer ✔✔A numerical number that summarizes SAMPLE data (known/accurate)
Variable - correct answer ✔✔A characteristic of a population that is not the same among all members of
a population. (ex. age/size)
Qualitative Characteristics - correct answer ✔✔descriptive characteristics
quantitative characteristics - correct answer ✔✔numerical characteristics
Scales of Measurement - correct answer ✔✔Ways in which we measure or define variables
Descriptive Statistics - correct answer ✔✔collecting, summarizing, visualizing, presenting, and analyzing
data
Inferential statistics - correct answer ✔✔Using data collected from a small group to draw conclusions
about a larger group
Population - correct answer ✔✔Large Group
Sample - correct answer ✔✔Small group
Census - correct answer ✔✔When you have data on every member of the population
A good sample is - correct answer ✔✔Representative, random, good size
Parameter - correct answer ✔✔A numerical number that summarizes POPULATION data
(unknown/estimate)
Statistic - correct answer ✔✔A numerical number that summarizes SAMPLE data (known/accurate)
Variable - correct answer ✔✔A characteristic of a population that is not the same among all members of
a population. (ex. age/size)
Qualitative Characteristics - correct answer ✔✔descriptive characteristics
quantitative characteristics - correct answer ✔✔numerical characteristics
Scales of Measurement - correct answer ✔✔Ways in which we measure or define variables
