# Mercator chart

Classified in Mathematics

Written at on English with a size of 4.74 KB.

**Statistics** - The science
Of collecting, organizing, analyzing, and interpreting data for the purpose of
Making more effective decisions.

**Levels of measurement -** nominal,
Ordinal, interval, and ratio levels of measurement.

**Discrete** - Variables can
Assume only certain values, and there are “gaps” between the values

**Inferential or Inductive** - This facet of
Statistics deals with estimating a population parameter based on a sample
**statistic**.

**Statistic- **A characteristic
Of a sample

**Parameter - **A characteristic
Of a piopulation

**Frequency distribution-** A grouping of
Data into classes showing the number of observations in each of the mutually
Exclusive and collectively exhaustive classes.

**Pie chart- **A circular chart
That shows the proportion or percentage that each class represents of the total
Number of frequencies.

**Frequency table- **A grouping of
Qualitative data into mutually exclusive classes showing the number of
Observations in each class.

**Mutually exclusive;
Exhaustive- **A property of a set of categories such that an individual,
Object, or measurement is included in only one category. The categories cover every possible state.

**Cumulative frequency
Distributions- **Each class is summed with the class prior in a frequency
Distribution

**Empirical Rule-**For a
Symmetrical, bell-shaped frequency distribution, approximately 68% of the
Observations lie within ±1 standard deviation of the mean; about 95% of the
Observations lie within ±2 standard deviations of the mean; and practically all
(99.7%) lie within ±3 standard deviations of the mean.

**Mean- **The
Average. Sum all observations and divide
By the number of observations

**Dispersion- **refers to the
Spread of the data around the mean

**Standard Deviation- **A measure of
Dispersion. It is the square root of the Variance

**Variance- **The mean of the
Squared deviAnce from the mean of all observations. It is a measure of dispersion

**Box plot: **A graphic
Display that shows the general shape of a variable's distribution. It is based
On five descriptive statistics: the maximum and minimum values, the first and
Third quartiles, and the median.

**3 ^{rd} Quartile-
**The
75th percentile used in a box plot

**Skewness- **A measure of the
Asymmetry of a distribution of Data

**Contingency table:**A table used to
Classify observations according to two characteristics. If characteristics,
Such as gender and highest degree earned for a sample of stockbrokers, are
Cross classified into a table,