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MIS 301 Question and answers 100% correct 2024

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MIS 301 Question and answers 100% correct 2024 Descriptive Statistics - correct answer - Tabular, graphical, and numerical methods used to summarize (or describe) data - Involves collecting, presenting, and characterizing data Inferential Statistics - correct answer - Process of using samp...

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  • August 27, 2024
  • 7
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • mis 301
  • mis 301 question and answers 100 correct 2024

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  • MIC 301
  • MIC 301

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MIS 301 - Exam 1
Descriptive Statistics - correct answer ✔- Tabular, graphical, and numerical
methods used to summarize (or describe) data
- Involves collecting, presenting, and characterizing data


Inferential Statistics - correct answer ✔- Process of using sample data to
draw conclusions or make decisions about the characteristics of the
population
- Two forms:
-Estimation
-Hypothesis testing


Scatter Diagram - correct answer ✔- Graphical representation of the
relationship between two quantitative variables x and y


Covariance - correct answer ✔- measure of the linear association between
two variables
- positive values indicate a positive relationship
- negative values indicate a negative relationship


Correlation Coefficient - correct answer ✔- unit free measure of degree of
linear association between two variables


Chart area - correct answer ✔All area of chart


Plot Area - correct answer ✔region containing the graphical representation of
your data

, Steps to Create a Chart - correct answer ✔- select the data source
- select the chart type
- add and format chart elements
- size and position the chart


column chart - correct answer ✔- displays values in vertical columns where
the height represents the value
- appropriate to compare values across different categories (max 7
categories)


Bar Chart - correct answer ✔- displays values in horizontal bars where the
width represents the value
- similar to column chart, but preferred when category names are long


Line Chart - correct answer ✔- appropriate to show continuous data to depict
trends over time


Pie Chart - correct answer ✔- shows each data point as a proportion to the
whole data series
- represents a single data series only (max 7 slices)
- use it when you want to convey percentage or market share


Scatter Chart - correct answer ✔- good for looking at
relationships/associations between data, regression


Histograms - correct answer ✔- allows you to visually see the frequency of
data in each bin

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