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BADM 7020 - Stats Questions with Explanations of Answers | latest upate 2024
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BADM 7020 - Stats Questions with Explanations of Answers | latest upate 2024
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BADM 7020 - Statsnominal data - ANS-type of data?
implication: labeling only
meaning operations: counting
examples: gender, political party, major
ordinal data - ANS-type of data?
implication: ranking
meaning operations: ordering
examples: grades, BCS rankings
interval data - ANS-type of data?
implication: meaningful distances between values
meaning operations: addition, subtraction, multiplication by constant
examples: temperature, survey ?s
ratio data - ANS-type of data?
implication: meaningful zero-point
meaning operations: multiplication, division, etc
examples: stock price, height, weight, mileage
quantitative data - ANS-classification of data?
numerical; ex: average IQ
qualitative data - ANS-classification of data?
categorical; ex: wash your hands? Y/N
statistic - ANS-the number that summarizes the data collected from a sample (ex: mean,
variance, SD)
data - ANS-the actual measurements that you get through your study
mean (μ) variance (s²) proportion (π) - ANS-what are the population parameters?
, statistics VS. probability - ANS-going from observed data to generalizations about the world VS.
assuming you know how the world works, you can figure out what kinds of data you are likely to
see (inverse)
statistical process - ANS-1. determine target group
2. collect and preprocess raw data
3. organize, summarize, analyze data
4. take all summaries, charts, graphs and draw valid conclusions
estimation - ANS-which statistical decision problem?
average IQ test score of 20,000 LSU students?
proportion of students that wash their hands?
testing hypothesis - ANS-which statistical decision problem?
average IQ test score is higher than 120 or not?
proportion of students that wash their hands is over 50%?
comparison of 2 populations - ANS-which statistical decision problem?
IQ test scores of LSU vs Tulane?
more tips for waiters or waitresses?
prediction - ANS-which statistical decision problem?
average mileage on your 5-year old car?
market value of your house?
classification - ANS-which statistical decision problem?
CSI found a skull... male or female?
credit card app... accept or reject?
cluster analysis - ANS-which statistical decision problem?
how to divide individual observations into sever groups (ex: song genres)
time series analysis - ANS-which statistical decision problem?
any linear or cyclical patterns? (ex: financial data)
deterministic model - ANS-which type of statistical model?
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