Chapter 1.1 Flashcards

1
Q

What is a data set?

A

A data set is a collection of facts and figures gathered for a specific study or purpose.

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2
Q

What are elements in a data set?

A

Elements in a data set are individual data points or observations, representing specific instances or units of measurement.

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3
Q

What are variables in the context of data sets?

A

Variables in data sets are characteristics or attributes that can be measured or observed, used for analysis and drawing conclusions.

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4
Q

What does a data set typically provide information about?

A

A data set typically provides information about a group of individual elements, which can be people, objects, events, or other entities.

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5
Q

How is the information about the elements in a data set described?

A

The information about the elements in a data set is usually described by one or more characteristics, and each of these characteristics is called a variable.

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6
Q

What is a quantitative variable?

A

A quantitative variable is a type of variable that represents numerical measurements or quantities and can be measured and expressed with numbers.

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7
Q

What is a qualitative variable?

A

A qualitative variable is a type of variable that represents characteristics or attributes that are not measured with numerical values, but rather with labels or categories.

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8
Q

What is a quantitative variable?

A

A quantitative variable is a variable that represents measurements with numerical values, typically indicating “how much” or “how many.”

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9
Q

Can you provide examples of quantitative variables?

A

Examples of quantitative variables include the actual selling price of a home, payment time of a bill, gasoline mileage of a car, and the 2016 payroll of a Major League Baseball team.

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10
Q

How are values of a quantitative variable typically represented?

A

Values of a quantitative variable are typically represented as numbers on the real number line.

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11
Q

What is a qualitative or categorical variable?

A

A qualitative or categorical variable is a variable that assigns elements to specific categories or labels without numerical values.

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12
Q

Can you provide examples of categorical variables?

A

Examples of categorical variables include a person’s gender, satisfaction with a product purchase, type of lot on which a home is built, and the color of a car

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13
Q

How is the data for a qualitative variable typically represented visually?

A

Data for a qualitative variable is often represented visually using charts or graphs, such as bar charts to display the distribution of categories

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14
Q

What is cross-sectional data?

A

Cross-sectional data are data collected at the same or approximately the same point in time, often representing different entities or individuals.

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15
Q

Can you provide an example of cross-sectional data?

A

An example of cross-sectional data is a bank analyzing last month’s cell phone bills for its employees because these bills represent cell phone costs for different employees in the same month.

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16
Q

What is time series data?

A

Time series data are data collected over different time periods, typically showing how a variable changes over time.

17
Q

How are time series data typically represented visually?

A

Time series data is often represented visually using time series plots, where data points are plotted against their corresponding time index (e.g., years) on a horizontal scale.

18
Q

How does a runs plot (time series plot) visually represent time series data?

A

A runs plot, such as Figure 1.3, displays each data point on the vertical scale against its corresponding time index (year) on the horizontal scale, illustrating changes or trends over time.