EC255 Study Guide - Midterm Guide: Statistical Inference, Level Of Measurement, Descriptive Statistics
Document Summary
Statistic - science dealing with the collection, analysis, interpretation, and presentation of numerical data. Qualitative - labels or names for a characteristic. Four common levels of data measurement (from lowest to highest: nominal - used only to classify or categorize, ex. Si numbers, phone numbers, and employee identification numbers - used to differentiate employees and not make value statements: ordinal - used to rank or order objects, ex. scales on questionnaires (helpful, somewhat helpful, etc. ) Zero value in the data represents the absence of the characteristic being studied, ex. height, mass, time, volume. Population - collection of persons, objects, or items of interest. Census - researchers gather data from the whole population for a given measurement of interest size usually denoted by n. Sample - portion of the whole and, if properly taken, is representative of the whole, size usually denoted by n.
