13.10: Key Terms

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arithmetic mean: a measure of center of a data set, calculated by adding up the data values and dividing the sum by the number of data values

bar graph: a chart that presents categorical data in a summarized form based on frequency or relative frequency

bivariate data: paired data in which each value of one variable is paired with a value of a second variable

data visualization: the use of graphical displays, such as bar charts, histograms, and scatter plots, to help interpret patterns and trends in a data set

empirical rule: a rule that provides the percentages of data values falling within one, two, and three standard deviations from the mean for a bell-shaped (normal) distribution

expected value: a weighted average of the values of a variable where the weights are the associated probabilities

exponential distribution: a continuous probability distribution that is useful for calculating probabilities within the time between events

frequency distribution: a method of organizing and summarizing a data set that provides the frequency with which each value in the data set occurs

geometric mean: a measure of center of a data set, calculated by multiplying the data values and then raising the product to the exponent $\frac{1}{n}$ , where n is the number of data values

histogram: a graphical display of continuous data showing class intervals on the horizontal axis and frequency or relative frequency on the vertical axis

interquartile range (IQR): a number that indicates the spread of the middle half, or middle 50%, of the data; the difference between the third quartile (Q₃) and the first quartile (Q₁)

median: the middle value in an ordered data set

mode: the most frequently occurring data value in a data set

normal distribution: a bell-shaped distribution curve that is used to model many measurements, including IQ scores, salaries, heights, weights, blood pressures, etc.

outliers: data values that are significantly different from the other data values in a data set

percentiles: numbers that divide an ordered data set into hundredths; often used to indicate position of a data value in a data set

population data: data representing all the outcomes or measurements that are of interest

portfolio: a collection of financial investments, such as stocks, bonds, mutual funds, certificates of deposit, etc.

probability distribution: a mathematical function that assigns probabilities to various outcomes

quartiles: numbers that divide an ordered data set into quarters; the second quartile is the same as the median

sample data: data representing outcomes or measurements collected from a subset or part of a population

scatter plot (or scatter diagram): a graphical display that shows the relationship between a dependent variable and an independent variable

standard deviation: a measure of the spread of a data set that indicates how far a typical data value is from the mean

time series graph: a graphical display used to show measurement data plotted versus time, where time is displayed on the horizontal axis

variance: the measure of the spread of data values calculated as the square of the standard deviation

weighted mean: a measure of center of a data set in which each data value has a corresponding weighting

x-axis: the horizontal axis in a rectangular coordinate system

y-axis: the vertical axis in a rectangular coordinate system

z-score (or z-value): a measure of the position of a data value in the data set, calculated by subtracting the mean from the data value and then dividing the difference by the standard deviation

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