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MGSC 291 Exam 1 (Walters) (1)
MGSC 291 Exam 1 (Walters) (1)
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MGSC 291 Exam 1 (Walters)Collecting, summarizing, and presenting data - ANS-Descriptive Statistics
drawing conclusions about a population based on sample data from that population -
ANS-Inferential Statistics
a number used to describe a population - ANS-Parameter
a number calculated from a sample and is used to estimate the parameter - ANS-Statistic
variables that are measured at regular intervals over time (hourly, daily, weekly, monthly,
quarterly, annual...) - ANS-Time Series
several variables are all measured at the same time point (or time frame) - ANS-Cross-Sectional
Data
Data warehouses that have grown enormously in size, with the use of powerful computers, the
information contained in them is accessible and used to help make decisions - ANS-Big Data
jumps between possible values - ANS-Discrete variables
another possible value between any two values - ANS-continuous variable`
categorical variables for which the categories do not have a natural ordering - ANS-Nominal
variables
categorical variables for which the categories have a natural ordering - ANS-Ordinal Variables
For quantitative data
works for small to large datasets
plots the five number summary
great for side-by-side comparisons - ANS-boxplots
boxplot() - ANS-R code for boxplots
medium to large quantitative datasets
Bins touch
Choice of number of bins can distort features of the shape of the distribution - ANS-Histogram
hist() - ANS-R code for Histograms
, Displays quantitative data changing over time
Time on x axis (horizontal)
Variable on y axis (vertical) - ANS-Line graph
Use for qualitative data
Can be horizontal or vertical
can display parts of a whole or separate values
For nominal data: put in ascending/descending order
For ordinal data: put in order of categories - ANS-Bar Graph
Categorical Data
Not Good for comparisons
Do not use - ANS-Pie Charts
Used to depict two potentially related variables
Each point is a pairing
Linear, curvilinear, or no relationship
Positive vs negative relationship - ANS-Scatterplot
Average of sample - ANS-Sample Mean
50th percentile of the sample
Middle observation in the ordered list if "n" is odd
Average of 2 middle observations if "n" is even - ANS-Median
mean > median - ANS-If data is skewed to the right:
mean<median - ANS-If data is skewed to the left:
Standard deviation expressed as a percent of the mean (( sd/mean) x 100) - ANS-Coefficient of
Variation
1-1/k^2 - ANS-Chebyshev's Inequality
The rules gives the approximate % of observations w/in 1 standard deviation (68%), 2 standard
deviations (95%) and 3 standard deviations (99.7%) of the mean when the histogram is well
approx. by a normal curve - ANS-Empirical Rule
(x-mean)/SD - ANS-Z-Score
"tailedness" of the distribution - ANS-Kurtosis
P(A^c) = 1 - P(A) - ANS-Complement Rule
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