BUEC 232- Final Exam Guide - Comprehensive Notes for the exam ( 44 pages long!)

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BUEC 232 Full Course Notes
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BUEC 232 Full Course Notes
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Age, regio(cid:374), reve(cid:374)ue, te(cid:373)perature : data: the different values associated with a variable, eg. Ratio data strongest form of measurement: differences between measurements, true zero exists, eg. height, age, weekly food spending, 2. Interval data: differences between measurements is measured but there is no absolute zero, eg. birthdate, celcius, elevation, 3. Ordinal data: ordered categories (rankings, order, or scaling, eg. service quality rating, letter grades, 4. Nominal data: categories (no ordering or direction, eg. martial status, type of car owned. 2: the closer to 1, the stronger the positive linear relationship, the closer to 0, the weaker the linear relationship. 3: time series plots, used to study patterns in the values of a variable over time, time series plot: one variable is measured on the vertical axis and the time period is measured on the horizontal axis. Priori classical method of probability: the probability is decided first, then a process is selected to achieve it, 2.

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