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Business Statistics (026134 ) Cheatsheet

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University of Technology Sydney

Business Statistics (026134 )

26134: Business Statistics
University 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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Business Statistics (026134 ) Cheatsheet

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