DSCI 2710 Certification Review Exam Questions And Answers Verified Solutions.

Nominal Data - correct answer Data which consists of names, labels, or categories. Interval Data - correct answer differences between values can be found, but is NO absolute ZERO. Examples: temperature F, time. Ordinal Data - correct answer data exists in categories that are ordered but differences cannot be determined or they are meaningless. (Example: 1st, 2nd, 3rd) Ratio Data - correct answer data with an absolute 0. Ratios are meaningful. (Length, Width, Weight, Distance) Qualitative Data - correct answer Information describing color, odor, shape, or some other physical characteristic. Quantitative Data - correct answer Data associated with mathematical models and statistical techniques used to analyze spatial location and association. Discrete Data - correct answer Quantitative Data that can only take certain values. (ex. 1,2,3,4) Continuous Data - correct answer Quantitative Data that can take any value Use the following statement to answer questions # 1 through # 2 : According to a Gallup study , in April 2016 , 65 % of Americans preferred saving and only 33 % preferred spending. I. The reported figure 33 % is : - correct answer A population parameter Use the following statement to answer questions # 1 through # 2 : According to a Gallup study , in April 2016 , 65 % of Americans preferred saving and only 33 % preferred spending. 2. The population is: - correct answer All Americans The amount of gasoline dispensed at the pump is an example of: - correct answer Quantitative Data The year when books were published is an example of: - correct answer Interval Level of Measurement When we need to display nominal data from multiple groups, an appropriate graph is: - correct answer A stacked bar graph Empirical Rule - correct answer 68%, 95%, 99.7% Coefficient of Variation (CV) - correct answer A standardized measure of the risk per unit of return. It is calculated by dividing the standard deviation by the expected return. Standard Deviation - correct answer the square root of the variance Variance - correct answer standard deviation squared Choose the statement that is TRUE. - correct answer Outliers affect the mean. - correct answer a graph that represents the cumulative frequencies for the classes in a frequency distribution (Total Number) - correct answer A. Mean B. Median C. Mode D. None of the Above - correct answer The median is smaller than the mean - correct answer Ordinal level of measurement - correct answer Interval level of measurement - correct answer Ratio level of measurement - correct answer The median of a data set is not affected by outliers - correct answer The frequency of the corresponding class - correct answer a bar graph whose bars are drawn in decreasing order of frequency or relative frequency