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QMB 3200 EXAM 1 (3)
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Exam of 27 pages for the course NR 509 Final Exam at NR 509 Final Exam (QMB 3200 EXAM 1 (3))
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QMB 3200 EXAM 1frequency distribution - ANS-- shows the number of data observations that fall into
specific intervals
- Graphically summarize information not readily observable by merely looking at data in
a table
discrete data - ANS-- are values based on observations that can be counted and are
typically represented by whole numbers
- represent something that has been counted
take on whole numbers such as 0, 1, 2, 3
continuous data - ANS-- are values that can take on any real numbers, including
numbers that contain decimal points
usually measured rather than counted
- Examples are weight, time, and distance
examples of discrete data - ANS-Number of children per family
Number of cars listed per insurance policy
Vacation days per month
example of continuous data - ANS-Time required to read chapter 2
Thickness of paint applied to a car body
Voltage of batteries produced in August
relative frequency distribution - ANS-- display the proportion of observations of each
class relative to the total number of observations
- shows the fraction of observations in each class
found by dividing each frequency by the total number of observations
- the fractions in a relative frequency distribution add up to 1.00
cumulative relative frequency distribution - ANS-totals the proportion of observations
that are less than or equal to the class at which you are looking
,Shows the accumulated proportion as values vary from low to high
histogram - ANS-is a graph showing the number of observations in each class of a
frequency distribution
Excel uses the term "bins" for the classes in the distribution
method to determine the number of classes in a frequency distribution is the rule -
ANS-2^k > or = n
k = Number of classes
n = Number of data points
Find the lowest value of k that satisfies the rule
n = 50
k=5
k=6
which is the better choice? - ANS-25 = 32 < 50 (k = 5 is too small)
26 = 64 > 50 (k = 6 is a good choice)
class width definition and formula - ANS-The width is the range of numbers to put into
each class
maximum data value - minimum date value / k
class boundaries - ANS-- represent the minimum and maximum values for each class
- Choose class boundaries that are easy to read
3 to less than 6 minutes
6 to less than 9 minutes
9 to less than 12 minutes
3.21 to less than 6.21 minutes
6.21 to less than 9.21 minutes
9.21 to less than 12.21 minutes
rules for classes of grouped data - ANS-*Equal-size classes.* All classes in the
frequency distribution must be of equal width
*Mutually exclusive classes.* Class boundaries cannot overlap
, *Include all data values.* Make sure all data values are accounted for in the total row of
the frequency distribution
*Avoid empty classes.* It is undesirable for a histogram to display a class so narrow that
there are no observations in it
*Avoid open-ended classes (if possible).* These violate the first rule of equal class sizes
qualitative data - ANS-- values that are categorical
- Can be nominal or ordinal measurement level
- Describe a characteristic, such as gender or level of education
Frequency distributions help display qualitative data by - ANS-- indicating the number of
occurrences of various categories
- Can use Excel's COUNTIF function to count the number of values matching a category
label
bar charts - ANS-are a good tool for displaying qualitative data that have been
organized in categories
pareto charts - ANS-are bar charts that show the frequency of the categories that cause
quality control problems
Show quality problem categories in decreasing order
The most problematic categories are shown first
Pareto charts also plot the cumulative relative frequency as a line on the chart known as
an *ogive*
pie charts - ANS-- are another excellent tool for comparing proportions for categorical
data
- Each segment of the pie represents the relative frequency of one category
- All categories in the data set must be included in the pie
- Use a pie chart to compare the relative sizes of all possible categories
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