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Details

FM Block III PE 1a #3
Financial Management Officer Course
7
Finance
Post-Graduate
05/01/2013

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Cards

Term

-  some characteristic parameter,

- usually designated by a letter,

- can take on different values

 

- predetermined or random

Definition
What is a variable?
Term
Populations
Definition
In the statistical sense, what includes every item in the zone of consideration?
Term
Sample
Definition
What is a portion of the population taken under study to predict or infer something about the population?
Term
Measures of Central Tendency
Definition
What are used to reduce a mass of data to a single number which describes the "average," the center, or the "most typical" value of this data?
Term

- Average (known as)

- Measure of central tendency

- Best known & most used

Definition
What is the definition for Mean?
Term

Value of the middle item when the data size is odd

or 

average of the values of the two middle items when the data size is even

 

middle value/no formula

 

Definition
What is the definition for Median?
Term

- Most likely value of a set of observations

 

- Value that occurs most frequently

 

 

Definition
What is the definition for Mode?
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