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Business Analytics University of Iowa Question and answers verified to pass 2024 $13.49   Add to cart
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Business Analytics University of Iowa Question and answers verified to pass 2024
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Business Analytics University of Iowa Question and answers verified to pass 2024 Data - correct answer the facts and figures collected, analyzed and summarized for presentation and interpretation Observation - correct answer A set of values corresponding to a set of variables Variable - c...

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  • August 30, 2024
  • 13
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • business analytics university of iowa
  • business analytics university of iowa question and

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Business Analytics University of Iowa
Data - correct answer ✔the facts and figures collected, analyzed and
summarized for presentation and interpretation


Observation - correct answer ✔A set of values corresponding to a set of
variables


Variable - correct answer ✔A characteristic or a quantity of interest that can
take on different values


Variation - correct answer ✔A difference in how a variable is measured over
time


Random/Uncertain Variable - correct answer ✔A quantity whose values are
not known with certainty


Population - correct answer ✔The set of all elements of interest in a
particular study


Sample - correct answer ✔A subset of the population


Random Sampling - correct answer ✔Collecting a sample that (1) each
element selected comes from the same population and (2) each element is
selected independently


Quantitative Data - correct answer ✔If numeric and arithmetic operations can
be performed on them

, Categorical Data - correct answer ✔If arithmetic operations cannot be
performed on the data


Cross-Sectional Data - correct answer ✔Collected from several entities at
the same time


Time Series Data - correct answer ✔Collected over several time periods


Experimental Study - correct answer ✔A variable of interest is first identified.
Then one or more variables are identified and controlled or manipulated to
obtain data about how these variables influence the variable of interest


Observational Study - correct answer ✔Make no attempt to control the
variables of interest (i.e. a survey)


Frequency Distribution - correct answer ✔Summary of data that shoes the
number(frequency) of observations in each of several non overlapping
classes, called bins


Often concerned with the relative frequency- the percentage of items in each
bin


Relative Frequency of a Bin - correct answer ✔Frequency of the bin/n


Percent Frequency - correct answer ✔Summarizes the percent frequency of
the data for each bin


>>use 5-20 bins
>>Bin width (Largest data value-Smallest Data Value)/ # of bins

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