What is discrete data? - ANSWER Quantitative. Measured in specific values
What is continuous data? - ANSWER Quantitative. Measure in infinite values
What does qualitative data use? - ANSWER Proportions
What is ordinal data? - ANSWER Qualitative. Conveys a ranking
What is nominal data? - ANSWER Qualitative. Uses labels (no ranking)
What variables does a cross tabulation table use? - ANSWER Categorical and
categorical
What variables does a scatter plot use? - ANSWER Numerical and numerical
What variable(s) does a frequency table use? - ANSWER One categorical variable
What variables does a stacked/clustered bar chart use? - ANSWER Categorical and
categorical
What variables does a relative frequency histogram use? - ANSWER Categorical
and numerical
Define mean - ANSWER Simple average
Define median - ANSWER Middle value when data is ranked
Define mode - ANSWER Most frequent value
Define trimmed mean - ANSWER Average when most extreme 5% of data is cut
Define range - ANSWER maximum - minimum
Define interquartile range - ANSWER 75th percentile - 25th percentile
Define variance - ANSWER spread of data around mean (σ²)
What happens when standard deviation increases? - ANSWER Graph widens
Define coefficient of variation - ANSWER Compares variability between groups with
different magnitudes
Coefficient of variation equation - ANSWER SD / x̅ where x̅ is the sample mean
,What does it mean by a positively skewed graph? - ANSWER Tail trails to the right.
Mean > Median > Mode
What does it mean by a negative skewed graph? - ANSWER Tail trails to the left.
Mode > Median > Mean
When is a graph significantly skewed? - ANSWER Skewness more than twice the
standard error
Define kurtosis - ANSWER Measure of the extent to which observations cluster
around a central point
What is the normal distribution kurtosis value? - ANSWER 0
Define positive kurtosis - ANSWER Data clusters more in the centre
Define negative kurtosis - ANSWER Data clusters less in the centre
How is cross-sectional data collected? - ANSWER By observing many subjects at
the same point of time, or without regard to differences in time
What is time-series data? - ANSWER A sequence taken at successive equally
spaced points in time (discrete-time data)
Define association - ANSWER How one variable relates to another
Define covariance - ANSWER Measure of the co-movement between 2 variables
(measured in units)
Define positive covariance - ANSWER 2 variables move in the same direction
Define negative covariance - ANSWER 2 variables move in the opposite direction
Define the correlation coefficient - ANSWER Measure of the linear relationship
between 2 variables (scaled to equal a value between -1 and +1)
Define positive correlation - ANSWER 2 variables move in the same linear direction
Define negative correlation - ANSWER 2 variables move in the opposite linear
direction
Define parameter - ANSWER A summary measure that describes a characteristic of
the population
Define statistic - ANSWER A summary measure that describes a characteristic of a
sample
Define simple random sampling - ANSWER Everyone is equally likely to be chosen
from a population
, Define systematic random sampling - ANSWER Selecting 1 individual from a group
and choosing the kth individual thereafter
Define stratified random sampling - ANSWER Dividing the population into
homogenous groups of similar characteristics and selecting a random sample from
each group
Define cluster sampling - ANSWER Dividing the population into several clusters (that
aren't homogenous), and taking a random sample from each cluster
How are non sampling errors caused? Is it avoidable? - ANSWER By how the
person samples. It is human error and is avoidable
What is coverage error? - ANSWER Non sampling error. Difference between sample
population and target population (due to self selection or selection bias) — wrong
subjects
What is non-response error? - ANSWER Non sampling error. Subject from the
sample chooses not to respond and impacts on the data
What is a measurement error? - ANSWER Non sampling error. Error in the
measurement of the data through bad questions and misunderstanding
What is a sampling error? And is it avoidable? - ANSWER Difference between the
sample and population because of the observations that occurred with the particular
sample (unavoidable)
How do you decrease the sampling error? - ANSWER Increase the sample size
What is the margin of error? - ANSWER A quantified measure of the sampling error;
makes the sample statistic a more accurate measure of the population parameter
How to decrease the margin of error? - ANSWER Increase sample size
Define Union - ANSWER Probability that one event occurs OR the other
Define intersection - ANSWER Probability that both events occur TOGETHER
Define mutually exclusive - ANSWER 2 events CAN'T occur together
Define collectively exhaustive - ANSWER Outcomes given are the only POSSIBLE
outcomes
What does it mean when 2 events complement each other? - ANSWER Their
probabilities add to 1
Define conditional probability - ANSWER The probability of an event occurring
GIVEN THAT another has occurred
Define marginal probability - ANSWER Total probability of a row or column
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