Key Terms Chapter 22 Business Statistics

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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	Created by Kyra Louthan about 2 months ago