Business Statistics Descriptive Cheat Sheet 026134 Pdf Download

Business Statistics Cheat Sheet

University of Technology Sydney

1 Descriptive Statistics 1
Population: Collection of everything in the universe with regards to the variable

Parameter: A characteristic of the population

Sample: Small group of things taken from the population

Statistic: A characteristic of the sample Variable: Is a characteristic that we get data on

Types of Sampling:
• Simple random sampling
• Stratified random sampling
• Systematic sampling
• Cluster sampling
• Convenience sampling
• Judgement Sampling

Types of Bias:

•Selection Bias
•Measurement Bias
•Response Bias
•Confounding factors

Ogives – Captures information about cumulative

Pie Charts– circular display of data, where the whole pie represents 100%

Bar Chart– Easy to read and accurately interpret

Pareto Graph – Bar Chart in descending order

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