Exam (elaborations)
MAT 133 Module One Chapters 1-2
- Course
- MATH 2024\\2025
- Institution
- MATH 2024\\2025
MAT 133 Module One Chapters 1-2
[Show more]
Seller
Follow
Content preview
MAT 133 Module One Chapters 1-2is the science of collecting, organizing, interpreting, and presenting data. - ANS-Statistics
a trilogy of tasks involving data modeling, analysis, and decision making. - ANS-Data Science
is a single measure, reported as number, used to summarize a sample data set. - ANS-Statistic
refers to the collection, organization, presentation , and summary of data (either using charts
and graphs or using a numerical summary) - ANS-Descriptive Statistics
Refers to the generalizing from a sample to a population, estimating unknown population
parameters, drawing conclusions, and making decisions. - ANS-Inferential Statistics
Many companies use CRM to analyze customer data from multiple sources. With statistical and
analytics tools such as correlation and data mining, they identify needs of different customer
groups and this helps them market their products and services more effectively. -
ANS-Customer Relationship Management (CRM)
If each observation in the sample represents a different equally spaced point in time (years,
months, days). we have time series data - ANS-Time Series Data
is a single member of a collection of items that we want to study, such as a person, firm or
region. An example of an observation is an employee or an invoice mailed last month. -
ANS-Observation
is a characteristic of the subject or individual, such as an employee's income or an invoice
amount. - ANS-Variable
have values that are described by words rather than numbers. Example: structural lumber can
be classified by the lumber type(fir, hemlock, pine). - ANS-Categorical Data (qualitative data)
on occasion the values of the categorical variable might be represented using numbers.
Example: a database might code payment methods using numbers, 1=Cash 2= Check 3=
Credit/Debit Card 4= Gift Card - ANS-Coding
When some categorical data only has two values. Example: employment status (employed or
unemployed). mutual fund type (load or no-load), marital status (currently married or not
currently married).
Often coded using 1 or 0. 0-1 coding is arbitrary so the choice is equivalent. - ANS-Binary
Variables
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller topgradesdr. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for CA$11.15. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
73091 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now