What is nonimal data?
Nonimal data are categories that cannot be arranged in an order. For example, red, yellow, green and blue.
What is ordinal data?
Ordinal data are categories that can be arranged in order. For example, bad, good, very good, and excellent.
What is interval data?
Interval data are real numbers. For example, IQ Scores, heights, temperatures, incomes and distances.
What does it mean for data to be exhaustive?
Exhaustive means each data value must belong to one of the cateagories.
What does it mean for data to be mutually exclusive?
Mutually exclusive means that each observation belongs to only one category.
What does qualitative data or categorical data mean?
Cateogoircal data means
What is a random experiment?
A random experiment is an action or process that leads to one of several possible outcomes.
What is a sample space?
A sample space is the set of all possible outcomes of an experiment.
What is the classical approach?
The classical approach is the assumption all outcomes of an experiment are equally likely. For example rolling a 6 sided die.
What is the relative frequency approach?
The relative frequenecy approach is an approach that defines proability as the long-run relative frequency with which an outcome occurs. For example, you take the measured sample and dvide it by the total sample to get a frequenecy, that is used to draw conclusions. tHe bigger the sample the better.
What is the subjective method?
The subjective method assigns probabilities based on jdgement and experience. For example, stock market judgement.
What is an event?
An event is a collection or set of one or more simple events in a sample space.
