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UIUC BADM 210 FINAL Questions with 100% correct answers | verified | latest update 2024
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UIUC BADM 210 FINAL Questions with 100% correct answers | verified | latest update 2024
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UIUC BADM 210 FINALhierarchal clustering - ANS-Process of agglomerating observations into a series of nested
groups based on a measure of similarity.
k-means clustering - ANS-Process of organizing observations into one of k groups based on a
measure of similarity.
Euclidean distance definition - ANS-most common method to measure dissimilarity between
observations
Euclidean distance formula - ANS-d(uv) = Sqrt(u_q - v_q)^2
Confidence Definition - ANS-the conditional probability of the item set occurring given that the
antecedent item set occurs
Confidence Equation - ANS-(Support of {antecedent and consequent} / support of antecedent)
Lift ratio definition - ANS-represents how effective an association rule is at identifying
transactions in which the consequent item occurs versus randomly selected transaction.
Lift ratio equation - ANS-confidence / (support of consequent / total transactions)
Census - ANS-Collection of data from every element in the population of interest.
Why pick sample over census? - ANS--census may be expensive
-census may be time consuming
-census may be misleading
-census may be unnecessary
-census may be impractical
Statistical Inference - ANS-The process of making estimates and drawing conclusions about
one or more characteristics of a population through the analysis of sample data drawn from the
population.
Point (sample) estimates - ANS-- sample mean = x-bar
-sample standard deviation = s
-sample variance = s^2
-sample proportion = p-bar
-sample size = n
SAMPLE
, parameter (population) estimates - ANS--population mean = Mu
-population standard deviation = o
-population variance = o^2
-population proportion = p
-population size = N
CENSUS
Process of creating random samples in excel - ANS-1. use =RAND() for every object in the
sample
2. Choose n number of observations for the random sample
Parameter Definition - ANS-a measurable factor that defines a characteristic of a population,
process, or system
Point Estimation - ANS-the process of finding an approximate value of some parameter
Simple random sample (finite population) - ANS-each sample of size "n" has the same
probability of being selected
=RAND() formula for excel
Random sample conditions - ANS-1. each element selected comes from the same population
2. each element is selected independently
*care and judgement must be exercised
Sample statistic - ANS-computes a corresponding characteristic of the sample
-used to estimate the value of a population parameter
Point estimate - ANS-the numerical value of a point estimator
target population - ANS-population about which we want to make inferences
Random Variable - ANS-a quantity whose values are not known with certainty
Sampling Distribution - ANS-A probability distribution consisting of all possible values of a
sample statistic
sampling distribution of x-bar - ANS-the probability distribution of all possible values of the
sample mean (x-bar)
Expected value of x-bar - ANS-equals the mean of the population from which the sample is
selected
sampling error - ANS-the difference between the estimated standard deviation of x-bar and the
standard error of x-bar
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