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UGBA 104 PRACTICE REVIEW QUESTIONS 2024. Example of a Quantitative Variable - correct answer Age, Income Example of a Categorical Variable - correct answer Religion, Zip Code, Rent vs Own Example of a Binary Categorical Variable - correct answer Rent vs Own, Paid vs Not What is the diff...

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  • April 23, 2024
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  • 2023/2024
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  • ugba 104 practice review questions 2024

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UGBA 104 Final Review

Example of a Quantitative Variable - correct answer Age, Income



Example of a Categorical Variable - correct answer Religion, Zip Code, Rent vs Own



Example of a Binary Categorical Variable - correct answer Rent vs Own, Paid vs Not



What is the difference between Sorting and Filtering? - correct answer Sort puts things in different
orders whereas Filtering only shows the results you filtered for



What are some of the uses of Conditional Formatting? - correct answer Highlights cells with rules:

-Greater than/less than

-Top X%, Bottom X%

-Data Bars, Color Scales



For a Categorical Variable, what is the difference between a Frequency Distribution, a Relative Frequency
Distribution, and a Percent Frequency Distribution? - correct answer Frequency Distribution = How often
it shows up

Relative Frequency Distribution = How often it shows up in total-- #times/total

Percent Frequency Distribution = % of total that it makes up



What is the difference between Excel's COUNT, SUM & AVERAGE functions? - correct answer COUNT:
number of times something shows up

SUM: totals the numbers

AVERAGE: takes the average of the numbers



WHat is the difference between Excel's COUNTIF, SUMIF, & AVERAGEIF functions? - correct answer
COUNTIF: conditional counting

, SUMIF: conditional summation

AVERAGEIF: conditional averaging



What is the role of Bins when summarizing a quantitative variable with either a frequency distribution or
histogram? - correct answer Bins organize data so that it can be summarized into a frequency
distribution or histogram



For a Quantitative Variable, compare the information provided by using Excel's FREQUENCY function to
the information provided by using Excel to generate a Histogram - correct answer The FREQUENCY
function gives the data necessary to create a Histogram



What are the reasons to identify an outlier?(3) - correct answer Incorrectly included in data set

Typo in data

Fraudulent data



For a Quantitative Variable, what is the Interquartile Range? - correct answer Q3-Q1



How do you identify an Outlier using the Interquartile Range? - correct answer Upper Limit: Q3+1.5*IQR

Lower Limit: Q1 - 1.5*IQR



How do you Standardize the values for a data set's quantitative variable? - correct answer (Value -
mean)/STD of ALL



How do you identify an Outlier using the Empirical Rule for the Normal Distribution? - correct answer
(+)3 or (-)3 from the z-score = outlier



13. In a Box-and-Whisker Chart

What is represented by the box?

What is represented by the solid line within the box?

What is represented by the "x"?

What is represented by the two whiskers, including the solid line at the end of each whisker?

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