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ISDS 361A Midterm 1 Exam with Latest Questions and Answers, Exams of Business Economics

California State University (CSU) - Los AngelesBusiness Economics

ISDS 361A Midterm 1 Exam with Latest Questions and Answers Descriptive statistics ANSWER✓✓ numerical data used to measure and describe characteristics of groups. Includes measures of central tendency and measures of variation. Inferential statistics ANSWER✓✓ numerical data that allow one to generalize- to infer from sample data the probability of something being true of a population Exit polls ANSWER✓✓ A random sample of voters who exits the polling booth are asked for whom they voted. Population ANSWER✓✓ The entire set of observations under study. Frequently very large or maybe infinitely large. Ex. 50,000 college students. Parameter ANSWER✓✓ A descriptive measure of a population. Ex. the mean number of soft drinks consumed by all college students. Sample ANSWER✓✓ A set of data drawn from the studied population. Ex. the 500 students surveyed. Statistics ANSWER✓✓ A descriptive measure of a sample. It's used to make inferences about parameter.

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Descriptive statistics ANSWERV V numerical data used to measure and describe characteristics of groups. Includes measures of central tendency and measures of variation. Inferential statistics ANSWERY V numerical data that allow one to generalize- to infer from sample data the probability of something being true of a population Lxit polls ANSWERV V A random sample of voters who exits the polling booth are asked for whom they voted. Population ANSWERV V ‘The entire set of observations under study. Frequently very large or maybe infinitely large. Ex. 50,000 college students. Parameter ANSWERV V A descriptive measure of a population. Ex. the mean number of soft drinks consumed by all college students. Sample ANSWERV ¥ A set of data drawn from the studied population. Ex. the 500 students surveyed. Statistics ANSWERV V A descriptive measure of a sample. It's used to make inferences about parameter. Statistical inference problems ANS WERV V Involve 3 key concepts: population, sample, statistical inferences.