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Final

QMS 102 Study Guide - Final Guide: Statistical Inference, Celsius, Descriptive Statistics


Department
Quantitative Methods
Course Code
QMS 102
Professor
Jason Chan
Study Guide
Final

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Descriptive statistics: methods of organizing, summarizing, and presenting data in an informative way.
Inferential statistics: The methods used to find out something about population, based on a sample.
Qualitative: Data containing descriptive information in words or numbers (numbers represent codes for associated words) Examples: Gender, staff
friendliness rating, customer satisfaction
Quantitative: Data containing numerical information. Examples: monthly service charge, minimum balance to avoid fee, purchase amount
Discrete: Numerical responses that arise from the counting process Examples: the number of bedrooms in a house, the number of customers
Continuous: Numerical responses that arise froma measuring process. Take any value within an interval. Examples: purchase amount
Nominal: no particular order or ranking, eg gender, world oil supply by country
Ordinal: arranged in some order, the differences between data values cannot be determined or are meaningless, eg how the custom rates a store in a number
of areas (cleanliness, friendliness of staff) from 1-4
Interval: there are units of measurement, data must be numeric, the value zero is only an arbitrary reference (does not mean there is no amount of the
characteristic), eg temperature on the Celsius scale
Ratio: The zero point means absence of the characteristic (nothing), differences and ratios are meaningful, eg monthly income of surgeons, distance
traveled
Stem and leaf plots: should be from 6 to 13 stems, numbers may be repeated twice or 5 times, unit must be indicated if stem not taken at face value, leaf for
each data value is the next single digit for the stem, 0-4, 5-9 or 0-1, 2-3, 4-5, 6-7, 8-9, no rounding off, no commas or dashes
+ are quartiles, line across is median, 0 is an outlier (falls between the fence), * Extremes are beyond the outer fence
IQRQRIF
×+=
5.1
3
IQRLIFLOF
×=
5.1
IQRRIFROF
×+=
5.1
IQRQLIF
×=
5.1
1
mean = median, symmetric, or zero skewness
mean < median, negative or left-skewed
mean > median, positive or right skewed
The Empirical Rule( Bell-shaped Distribution)
Approximately 68% of the values are within
σµ
±
Approximately 95% of the values are within
σµ
2
±
Approximately 99.7% of the values are within
σµ
3
±
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