QMS 230 Study Guide - Midterm Guide: Scotiabank, Bar Chart, Frequency Distribution

• School: Ryerson University
• Department: Quantitative Methods
• Course: QMS 230
• Professor: Douglas Mc Kessock

Document Summary

Population: consists of all of the members of a group about which you want to draw a conclusion. Parameter: numerical measure that describes a characteristic of a population. Sample: portion of the population selected for analysis. Statistic: numerical measure that describes a characteristic of a sample. Discrete: when the data has a limit for example number of people on a bus, doesn"t go into decimals, and can"t be made more accurate. Continuous: if it can go into decimals for example height, time, distance, area, volume, weight, money. Nominal its answers that have categories without order. Marital status: single, married, divorced or widowed. Ordinal its answers that have categories with order but with rankings example: Order in sports win: 1st, 2nd, 3rd, etc. A summary table indicates the frequency or percentage of items in a set of categories so that you can see differences between categories.