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MSIS 3223 Exam 1 WITH 100- CORRECT ANSWERSMSIS 3223 Exam 1 WITH 100- CORRECT ANSWERS
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MSIS 3223 Exam 1 WITH 100- CORRECT ANSWERS
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EUNICEMSIS 3223 Exam 1 WITH 100% SURE ANSWERS
Terms in this set (87)
Covariance a measure of linear association between two variables, X and Y
measure of the linear relationship between two variables, X and Y, which does not
Correlation
depend on the units of measurement. is measured by the coefficient.
For two variables a ______ correlation positive
coefficient indicates a linear relationship
exists for which one variable increases as
the other also increases.
Kurtosis refers to the peakedness or flatness of a histogram
The coefficient of skewness measures the degree of asymmetry of observations around the mean
Skewness describes the lack of symmetry data
provides a relative measure of the dispersion in data relative to the mean and is
Coeffecient of Variation
defined as CV=Standard Deviation/Mean.
The coefficient of variation provides a smaller
relative measure of risk to return. The
smaller the coefficient of variation, the
___________ the relative risk is for the return
provided.
The reciprocal of the coefficient of return to risk
variation, called __________ , is often used
because it is easier to interpret.
average of the squared deviations of the observations from the mean.
Variance
square root of the variance
refers to the degree of variation in the data, that is, the numerical spread (or
Dispersion compactness) of the data. Several statistical measures characterize dispersion: the
range, interquartile range, variance, and standard deviation.
Range the difference between the maximum value and the minimum value in the data set.
Interquartile Range Often called the midspread, it is the difference between the first and third quartiles
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, provide estimates of a single value that in some fashion represents the "centering" of
a set of data. The most common is the average. The average is formally called the
arithmetic mean (or simply the mean) which is the sum of the observations divided by
Measures of location the number of observations.
specifies the middle value when the data are arranged from least to greatest is the
median. Half of the data are below the median, and half of the data are above it.
In___________, the elements of a data set statistical notation
are typically labeled as subscripted
variables.
population consists of all items of interest for a particular decision or investigation.
sample subset of a population
Most populations are too large to deal necessary
with, thus sampling is _________
often called the contingency table, it is a tabular method that displays the number of
observations in a data set in different subcategories of two categorical variables.
Cross-tabulation
The subcategories of the variables must be mutually exclusive and exhaustive,
meaning that each observation can be classified into only one subcategory, and,
taken together over all subcategories, they must constitute the complete data set.
Categorical Data naturally define the groups in a frequency distribution.
• table that shows the number of observations in each of several non-overlapping
Frequency Distribution groups. A graphical depiction of this in the form of a column chart is called a
histogram.
Relative Frequency Frequencies may be expressed as a fraction, or proportion of the total
continuous and have a natural zero point. Most business and economic data, such as
Ratio Data
dollars and time, fall into this category.
have constant differences between observations and have arbitrary zero points.
Interval Data
allow meaningful comparison of ranges, averages and other statistics?
Ordinal Data can be ordered or ranked according to some relationship to one another.
Categorical (nominal data) sorted into categories according to specified characteristics.
Data may be classified into ____ groups four
visual representation of a set of key business measures. It is derived from the analogy
of an automobile's control panel, which displays speed, gasoline level, temperature,
Dashboard
and so on. provides important summaries of key business information to help
manage a business process or function.
type of scatter chart in which the size of the data corresponds to the value of a third
Bubble Chart
variable; consequently, it is a way to plot three variables in two dimensions.
displays multiple data series on the same chart using different chart types such as a
Combination Chart
column chart and a line chart.
show multiple metrics on a spider web, thus allowing plotting of multiple dimensions
of several data series. This is a useful chart to compare survey data from one time
Radar Chart
period to another or to compare performance of different entities such as factories,
companies, and so on using the same criteria.
shows the relationship between two variables and consist of observations of pairs of
Scatter Chart
variable data.
Area Chart combines the features of a pie chart with those of line charts
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