Straighterline Business Stats Final exam with 100- correct answers(graded A+)

This idea of planning your approach to the course before you start is called Metacognition Metacognition involves five distinct skills Assess the task Evaluate your strengths and weaknesses Plan an approach Apply strategies and monitor your performance Reflect and adjust if needed statistics is all about converting data into useful information. Statistics is therefore a process in which we are: collecting data, summarizing data, and interpreting data. population The process of statistics starts when we identify what group we want to study or learn something about Note that the word "population" here (and in the entire course) is not just used to refer to people; it is used in the more broad statistical sense, where population can refer not only to people, but also to animals, things, etc sample A more practical approach would be to examine and collect data only from a sub-group of the population, which we call a _________________ Producing Data. We call this first step, which involves choosing a sample and collecting data from it,__________ Exploratory Data Analysis. This second step, which consists of summarizing the collected data, is called _____________ Probability is the "machinery" that allows us to draw conclusions about the population based on the data collected about the sample. Inference we can use what we've discovered about our sample to draw conclusions about our population. We call this final step in the process ____________ Data __________ are pieces of information about individuals organized into variables individual, _______________ we mean a particular person or object. variable, ________________ we mean a particular characteristic of the individual. dataset A ________ is a set of data identified with particular circumstances.__________ are typically displayed in tables, in which rows represent individuals and columns represent variables. Quantitative variables _________________ represent a measurement or count and generally answer the question: "how much", or "how many". Categorical variables ____________________ represent labels or ranks and places/classifies an individual into one of several groups. Examples of categorical variables are a person's eye color, a person's socioeconomic status Nominal variables ______________categorical variables where there is no natural order among the categorie Ordinal variables: ___________________ categorical variables where there is natural order among the categories. Interval variables _____________________ represent a measurement or count for which it makes sense to talk about the difference between values, but it does not make sense to talk about the ratio between values. The best example for an________________ is temperature. ratio variables ____________- are quantitative variables for which it makes sense to talk about the difference between values but in addition, the ratio between values has intrinsic meaning. Examples of a -__________ are income, weight, time. What are the individuals in this example? The students enrolled in Intro to Statistics How many variables are in this example? 4 Which of the variables above is ordinal? Death penalty What kind of variable is Personality? Interval What kind of variable is Sport? Nominal Which of the following variables is not a ratio variable? Temperature (Outside temperature) distribution In order to convert these raw data into useful information we need to summarize and then examine the ____________ of the variable. By ___________ of a variable, we mean: what values the variable takes, and how often the variable takes those values. here are two simple graphical displays for visualizing the distribution of categorical data The Pie Chart The Bar Chart the pie chart ______________ emphasizes how the different categories relate to the whole the bar chart ___________________ emphasizes how the different categories compare with each other.