Flashcards in A Deck (9)
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1
Descriptive statistics
Summarizes important data descriptions
2
Inferential statistics
Observing a small group then forecasting a large group
3
Population
All members of a specified group
4
Sample
A subset of the population
5
Measurement Scales
Nominal, Ordinal, Interval, Ratio
6
Nominal
Mutual funds: Groups but no rank
7
Ordinal
Mutual Fund Performance: Observations are ranked, differences are not equalized
8
Interval
Temperature: Rank and differences between scale values are equal but no true zero point exists
9
