SCM 200 Midterm: SCM200 Exam 1 Study Guide

• School: PSU
• Department: Supply Chain Management
• Course: SCM 200
• Professor: M A R I L Y N B L A N C O

Document Summary

Descriptive vs. inferential statistics: descriptive: summarize the values of a data set by using charts, graphs, averages, and tables, inferential: make generalizations based on the descriptive statistics of our sample data. Population: entire group of people or objects to be studied (stagnant group) Process: activities that are performed over and over to transform inputs into outcomes. Parameter: value that summarizes a characteristic of a population or process descriptive measure of a population. Statistic: value that summarizes a characteristic of a sample descriptive measure of a sample. Sampling error: difference between the result of a sample and the corresponding result of a census (when the sample is the population) Statistical inference: using sample information to learn about a population or a process. Statistical variable: single characteristic of any object or event. Qualitative (nominal and ordinal) vs. quantitative (interval scale and ratio scale)