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A snapshot of the summary  Managerial Statistics

1 What Is Statistics?
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How do you call a random sample of voters who exit the polling booth and are asked for whom they voted?Exit polls

What is a parameter?A descriptive measure of a population. E.g. the mean number of a group, etc. You ask: which measure of the population do I want to describe.

What are the 2 levels of reliability build into statistical inference?1. Confidence level  proportion of times that an estimating procedure will be correct
2. Significance level  how frequently the conclusion about a population will be wrong 
1.1 Key Statistical Concepts
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How do you call the group of all items that are of interest to a statistics practitioner?Population

How do you call a descriptive measure of a population?Parameter

How do you call a descriptive measure of a sample?Statistic

2 Graphical Descriptive Techniques I
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What is the interval data of measurement?Real numbers, such as heights, weights, incomes, etc. Also known as quantitative or numerical data. There is an arbitrary zero point, that we as humans chose. E.g temperature. All calculations are valid, and data may be treated as ordinal or nominal.

What are the 2 types of graphical techniques used to describe ordinal data?Also bar chart and pie chart, but the only difference is that the values at the horizontal axis of the bar chart have a logical order, as do the values in the pie chart. The pie chart is also arranged clockwise

What graphical techniques are used to describe interval and ratio data? Histograms
 Stem leaf display
 Ogive 
What is a histogram?Gives a clear summary of the set of data. Is drawn with a frequency table that counts the occurrences of a certain interval
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The following topics are covered in this summary

observations, data, formula

data, points, frequency

data, line, middle

probability, event, outcomes

interval, number, probability

distribution, variable, probability

distribution, continuous, factor

value, population, distribution

error, hypothesis, h0

rejection, region, statistic

population, distribution, tstatistic

experiment, proportions, matched

experiment, multinomial, frequency

variable, dependent, model

ordinal, nonparametric, statistics