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QMB 3200 EXAM 1 GARY BLISS EXAM QUESTIONS AND ANSWERS (GRADED A) $14.99   Add to cart

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QMB 3200 EXAM 1 GARY BLISS EXAM QUESTIONS AND ANSWERS (GRADED A)

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QMB 3200 EXAM 1 GARY BLISS EXAM QUESTIONS AND ANSWERS (GRADED A)QMB 3200 EXAM 1 GARY BLISS EXAM QUESTIONS AND ANSWERS (GRADED A)QMB 3200 EXAM 1 GARY BLISS EXAM QUESTIONS AND ANSWERS (GRADED A) Statistics - ANSWER-Mathematical Science that deals with the collection, analysis, and presentation of da...

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  • November 5, 2024
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  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • QMB 3200
  • QMB 3200
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QMB 3200 EXAM 1 GARY BLISS EXAM
QUESTIONS AND ANSWERS (GRADED
A)

Statistics - ANSWER-Mathematical Science that deals with the collection, analysis, and
presentation of data which can then be used to infer

Data - ANSWER-Facts and figures that are collected, analyzed, and summarized for
presentation and interpretation

Primary Data - ANSWER-Data collected for own use. It is inexpensive, time consuming,
and trustworthy

Secondary Data - ANSWER-Data collected by someone else. It is cheap, easy to find,
but not trustworthy

Ways of Collecting Primary Data - ANSWER-Direct Observation, Experimentation,
Survey

Direct Observation - ANSWER-Observing a focus group in natural habitat

Experiment - ANSWER-Treatment in a controlled habitat

Survey or Questionnaires - ANSWER-Responses and discussions

Good Survery - ANSWER-State its purpose and ask personla information at the end

Bias - ANSWER-Questions that affect responses by leading or encouraging an answer

Categorical/Qualitative Data - ANSWER-Data that is grouped by category and is non
numbers. It is described by terms

Quantitative Data - ANSWER-Data that is grouped by numbers. Described by numerical
values and are counted or measured

Types of Qualtitative Data - ANSWER-Nominal and Ordinal

Nominal Data - ANSWER-Arbitrary labels for data with no ranking (zipcodes)

Ordinal Data - ANSWER-Arbitrary ranked data but no meaningful differences (mIddle,
high, schoo, etc)

, Types of Quantitative Data - ANSWER-Interval and Ratio

Interval Data - ANSWER-Meaningful ranked data with no 0 point (years)

Ratio - ANSWER-Meaningful ranked data with a real 0 value (Income)

Time Series Data - ANSWER-Specific Measurements over a time period

Cross Sectional Data - ANSWER-Specific values of a subject from a point in time

Descriptive Statistics - ANSWER-Collect, summarize, and display

Inferential Statistics - ANSWER-Making claims about data based on a sample

Population - ANSWER-All possible subjects in a study

Sample - ANSWER-Portion of the population that is representative of the population
from which it was selected

Parameter - ANSWER-Characteristic of population

Statistic - ANSWER-Characteristic of sample

Cumulative Relative Frequency - ANSWER-Accumulated proportion of frequency that
are less or equal to the class that is being observed

Histogram - ANSWER-Number of observations in each class of frequency distribution
on a graph

Variance Definition - ANSWER-Measures variability or spread of data points around the
mean

Standard Deviation - ANSWER-Square root of Variance.

Definition of Standard Deviation - ANSWER-Measure of how far on average each data
value is from the mean

Formula for Variance - ANSWER-((Data Value-Mean)^2)/N

Excel Functions - ANSWER-Var.s STDEV.S or Var.p STDEV.P or ToolPak`

coefficient of variation - ANSWER-Measures standard deviation in terms of its
percentage of the mean

Number of classes - ANSWER-2^K GREATER OR EQUAL TO N solve for K

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