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ISDS (Statistics) Exam 1 questions and answers
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ISDS (Statistics) Exam 1 questions and answers
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ISDS (Statistics) Exam 1Statistics Avoidance and Misconception: - correct answer ✔✔Statistics deals with outrageous formulae
and tedious calculations that have no use in real life
Statistics - correct answer ✔✔provides a means of using numbers to analyze the world we live in
The manager of a company notices that potential buyers on their website drop off during checkout. After
consulting with the web master, the site is redesigned so that the 'Checkout' process is reduced to one,
manageable web page. Q: Has the change been effective and how? (Note: this process uses data to
monitor the web traffic, then uses data to assess any changes) - correct answer ✔✔This data that is
given, shows that the change was ineffective due to the major drop-off in numbers. It is important to
determine if the change is necessary to make before you make it. And also how you make the change.
What is Statistics? - correct answer ✔✔Statistics is the branch of mathematics
that uncovers patterns in data and
transforms that into useful information
for decision making.
TWO branches of Statistics: - correct answer ✔✔Descriptive & Inferential
Descriptive Statistics - correct answer ✔✔those
methods involved in the collection,
summarizing (numerically or
graphically), presenting, and
analyzing a set of data in order to
describe the various features of that
data set. (creating pie charts)
Inferential Statistics - correct answer ✔✔those
,methods that use data from a smaller group (sample) to make conclusions/decisions about the
characteristic of a larger group (population).
Population - correct answer ✔✔the entire set of
observations for which conclusions
are to be made. (Ex: all registered voters.)
Sample - correct answer ✔✔a subset of the population
selected for analysis
Parameter - correct answer ✔✔a summary measure
that describes a characteristic of an
entire population. (µ or π)
(number that can represent an entire group/number that describes a population)
Statistic - correct answer ✔✔a summary measure that
describes a characteristic of a
sample.
(number that describes a sample)
The Need for Sampling - correct answer ✔✔Reasons:
(1) Studying the population is
expensive.
(2) It is impossible to examine every member of the population.
Types of Data - correct answer ✔✔Cross-sectional
Time Series Data
, Cross-Sectional - correct answer ✔✔data collected at one point in time
Time Series Data - correct answer ✔✔data collected over several periods of time
Variable - correct answer ✔✔the characteristic of an observation or individual
Data - correct answer ✔✔the values associated with a variable
Types of Variables - correct answer ✔✔in order to address
statistical questions, one must FIRST be
able to identify types of variables
The TWO types of variables are: - correct answer ✔✔Categorical variables
Quantitative variables
Categorical Variables - correct answer ✔✔(also known as Qualitative) - have values that can be placed
into categories (Yes/ No)
Quantitative Variables - correct answer ✔✔(also known
as Numeric) - yields values that
represent quantities (weight, salary, etc.)
Two types of quantitative variables: - correct answer ✔✔Discrete
Continuous
Discrete - correct answer ✔✔result of counting
Continuous - correct answer ✔✔measurements
can take on infinitely many
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