QMB3200 Exam Rated A+ Brand New!!
population - Answer- is the entire collection of things under consideration
parameter - Answer- is a summary measure computed to describe a characteristic of
the population
sample - Answer- is a portion of a subset of the populaton selected for analysis
statistic - Answer- is a summary measure computed to describe a characteristic of the
sample
estimation - Answer- use sample to estimate population when NO CLAIM made about
population
hypothesis testing - Answer- use sample to estimate population when claim is made
time series data - Answer- a set of data values observed at successive points in time
cross sectional data - Answer- a set of data values observed at a fixed point in time
probability - Answer- the chance that an uncertain event will occur (always between 0
and 1)
experiment - Answer- a process of obtaining outcomes for uncertain events
random variable - Answer- represents a possible numerical value from a random event
discrete random variable - Answer- a variable that can assume only a countable number
of values
continuous random variable - Answer- a variable that can assume any value on a
measurable number of values and is represented by a smooth curve
population - Answer- is the entire collection of things under consideration
parameter - Answer- is a summary measure computed to describe a characteristic of
the population
sample - Answer- is a portion of a subset of the populaton selected for analysis
statistic - Answer- is a summary measure computed to describe a characteristic of the
sample
estimation - Answer- use sample to estimate population when NO CLAIM made about
population
hypothesis testing - Answer- use sample to estimate population when claim is made
time series data - Answer- a set of data values observed at successive points in time
cross sectional data - Answer- a set of data values observed at a fixed point in time
probability - Answer- the chance that an uncertain event will occur (always between 0
and 1)
experiment - Answer- a process of obtaining outcomes for uncertain events
random variable - Answer- represents a possible numerical value from a random event
discrete random variable - Answer- a variable that can assume only a countable number
of values
continuous random variable - Answer- a variable that can assume any value on a
measurable number of values and is represented by a smooth curve
