Key Terms Chapter 22 Business Statistics

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Key Terms for Chapter 22: Business Statistics
Kyra Louthan
Flashcards by Kyra Louthan, updated 2 months ago
Kyra Louthan
Created by Kyra Louthan 2 months ago
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Question Answer
Bar Graph Visual representation using horizontal or vertical bars to make comparison or to show relationship on items of similar makeup
Circle Graph A visual representation of the parts of the whole
Empirical Rule for a normal distribution, nearly all the data fall within three standard deviations of the mean
Frequency Distribution shows by table the number of times events occurs
Index Numbers express the relative changes in variable compared with some base, which is taken as 100
Line Graph graphical presentation that involves a time element. shows trends, failures, backlogs, and the like
Mean statistical term that is found by the sum of all figures divided by the number of figures
Measure of Dispersion number that describes how the numbers of a set of data are spread out or dispersed
Median statistical term that represents the central point or midpoint of a series of numbers
Mode value that occurs most often in a series of nubmers
Normal Distribution data are spread symmetrically about the mean
Price Relative Range the quotient of the current price divided by some previous years price-the base year-multiplied by 100
Standard Deviation measures the spread of data around the mean
Weight Mean used to find an average when values appear more than once
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