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MSIS 3223 Exam 1|87 Complete Q’s and A’s
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MSIS 3223 Exam 1|87 Complete Q’s and A’s
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MSIS 3223 Exam 1|87 Complete Q’s andA’s
Covariance - -a measure of linear association between two variables, X and
Y
- Correlation - -measure of the linear relationship between two variables, X
and Y, which does not depend on the units of measurement. is measured by
the coefficient.
- For two variables a __________ correlation coefficient indicates a linear
relationship exists for which one variable increases as the other also
increases. - -positive
- Kurtosis - -refers to the peakedness or flatness of a histogram
- The coefficient of skewness - -measures the degree of asymmetry of
observations around the mean
- Skewness - -describes the lack of symmetry data
- Coeffecient of Variation - -provides a relative measure of the dispersion in
data relative to the mean and is defined as CV=Standard Deviation/Mean.
- The coefficient of variation provides a relative measure of risk to return.
The smaller the coefficient of variation, the ___________ the relative risk is for
the return provided. - -smaller
- The reciprocal of the coefficient of variation, called _______________, is often
used because it is easier to interpret. - -return to risk
- Variance - -average of the squared deviations of the observations from the
mean.
square root of the variance
- Dispersion - -refers to the degree of variation in the data, that is, the
numerical spread (or compactness) of the data. Several statistical measures
characterize dispersion: the range, interquartile range, variance, and
standard deviation.
- Range - -the difference between the maximum value and the minimum
value in the data set.
, - Interquartile Range - -Often called the midspread, it is the difference
between the first and third quartiles
- Measures of location - -provide estimates of a single value that in some
fashion represents the "centering" of a set of data. The most common is the
average. The average is formally called the arithmetic mean (or simply the
mean) which is the sum of the observations divided by the number of
observations.
specifies the middle value when the data are arranged from least to greatest
is the median. Half of the data are below the median, and half of the data
are above it.
- In _________________, the elements of a data set are typically labeled as
subscripted variables. - -statistical notation
- population - -consists of all items of interest for a particular decision or
investigation.
- sample - -subset of a population
- Most populations are too large to deal with, thus sampling is _________ - -
necessary
- Cross-tabulation - -often called the contingency table, it is a tabular
method that displays the number of observations in a data set in different
subcategories of two categorical variables.
The subcategories of the variables must be mutually exclusive and
exhaustive, meaning that each observation can be classified into only one
subcategory, and, taken together over all subcategories, they must
constitute the complete data set.
- Categorical Data - -naturally define the groups in a frequency distribution.
- Frequency Distribution - -• table that shows the number of observations in
each of several non-overlapping groups. A graphical depiction of this in the
form of a column chart is called a histogram.
- Relative Frequency - -Frequencies may be expressed as a fraction, or
proportion of the total
- Ratio Data - -continuous and have a natural zero point. Most business and
economic data, such as dollars and time, fall into this category.
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