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accounting test 1 > business analytics exam 1 > Flashcards

business analytics exam 1 Flashcards

1
Q

facts and figures which industries use

A

data

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2
Q

any characteristic of an element, also used to describe data

A

variable

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3
Q

way to assign value of a variable of an element

A

measurement

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4
Q

possible measurements fall into several categories

A

qualitative

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5
Q

possible measurements of the values of a variable are numbers that represent quantities

A

quantitative data

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6
Q

weight of packages, size of package, time of order to destination, costs

A

UPS quantitative data

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7
Q

labels, name, anything used to identify an attribute

A

qualitative examples

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8
Q

name , cell phone number, address, email

A

examples of qualitative data

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9
Q

data collected at the same point in time

A

cross sectional data

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10
Q

data already collected by public and private sources

A

existing sources

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11
Q

internet, library, government

A

examples of exisiting sources

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12
Q

data collected for a specific purpose

A

experimental and observational studies

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13
Q

When initiating a study, you must first find a variable if interest called a

A

response variable

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14
Q

variables related to the variables of interest in the second step of initiating a study

A

independent variables

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15
Q

companies hope to use this to indicate past behavior and other information to predict customer response

A

transactional data

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16
Q

process of centralized data management and retrieval

A

data warehousing

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17
Q

the objective is the creation and maintenance of a central repository for an organizations data

A

data warehousing

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18
Q

three types of analytic users

A

business user, business analytics, data scientist

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19
Q

person who manages cleans and aggregates data

A

business analyst

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20
Q

first step of anayltic process

A

business must find a problem and pain point

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21
Q

second step of analytic process

A

collection and management of data

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22
Q

third step of analytics process

A

describe and interpret what has happened with your collected past data

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23
Q

4th step of analytics process

A

predict what will happen in the future

24
Q

5th step of analytics process

A

make a business decision

25
Q

2 subsets of quantitative data

A

discrete, continous

26
Q

quantitative data that consist of a whole number

A

discrete

27
Q

quantitative data that has fractions and decimals

A

continuous

28
Q

2 subsets of qualitative data

A

ordinal, nominal

29
Q

qualitative data that requires an order

A

ordinal

30
Q

qualitative data where order doesn’t matter

A

nominal

31
Q

accepts payments from customers and keeps track of sales and inventory through an online store

A

point of sale system

32
Q

path a user takes through online journey

A

click stream data (CSD)

33
Q

computer based sharing of ideas, thoughts ,info, online data that the user provides

A

social media data

34
Q

a device that detects a change in the environment and converts the change into measurable data

A

sensor data

35
Q

Identity is coded but known by someone in charge

A

confidential

36
Q

no identity is known by anyone

A

anonymous

37
Q

entire group of people we want data from

A

population

38
Q

part of the population we collect to analyze

A

sample

39
Q

data for ALL of the population

A

census

40
Q

people or things being sampled

A

elements

41
Q

every set of individuals has an equal chance to be selected, foundation for all sample methods

A

simple random sample

42
Q

divides the population into nonoverlapping groups that select a random, sample from each strata

A

statified random sample

43
Q

list population, select random starting point, sample each nTH element, must have a starting point and random mathematical selection

A

systematic sampling

44
Q

divides the population into clusters, randomly select clusters , sample all in each cluster

A

multistage cluster sampling

45
Q

type of sampling requires large sample and geographical area

A

multistage cluster sampling

46
Q

select sample of people because it is easy to get data

A

convenient bias

47
Q

self selected sample, those who want to participate because they have a strong feeling

A

voluntary

48
Q

incomplete sampling where not a sufficient amount was sampled to make an accurate statement

A

undercoverage bias

49
Q

when sampling does not represent data not represent population due to biased sampling

A

sampling error

50
Q

doesnt include representation from entire population

A

coverage bias

51
Q

sampling procedures result in collecting incorrect data

A

measurement error

52
Q

response bias is a type of

A

measurement bias

53
Q

using leading questions or poorly worded

A

response bias

54
Q

bias caused by sampling method or how sample is conducted

A

coverage bias

55
Q

4 essential parts of consent form

A

purpose, what will be asked, will data be confidential or anonymous, are there risks

accounting test 1 (6 decks)

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