Chapter 2 - Solving Problems with Statistical Analysis Tools Flashcards
What is the arithmetic average of a set of numbers?
The mean
What is the value in the middle?
The median
Which statistics fundamental occurs most frequently?
Mode
What is an indicator of how close together the values of a distribution are?
Standard deviation
What indicates that the mean, median, and mode are the same value?
Normal distribution
What is a distribution skewed?
When the mean, median, and mode aren’t the same value
Which function changes the precision of data values stored?
The Round function
What is the format of the Round function?
=ROUND(number,num_digits)
Which function rounds a number down to the specific number of decimal places?
ROUNDDOWN(number,num_digits)
Which function rounds a number up to the next highest even integer?
EVEN(number)
Which function rounds a number up to the next highest odd integer?
ODD(number)
Which function rounds a number down to the nearest integer?
INT(number)
What is the format of the Mode function?
MODE.SNGL(range)
What is the format of the Standard deviation function?
STDEV.S(range)
List 2 ways that you can manage large worksheets
- Freezing panes
2. Splitting the window
Which feature keeps titles displayed in the top pane while we scroll down the worksheet?
Freezing panes
Which feature allows you to scroll each portion individually, top/bottom and left/right, with separate scroll bars?
Splitting the window
Which worksheet places current values and historical values on a separate worksheet, side by side?
The comparison worksheet
What is a new contextual tool that enables easy access to data-analysis features?
Quick analysis
Which function allows a list to be sorted, then counts the number of entries either above or below the value in question?
The RANK.EQ function
What is the format of the RANK.EQ function?
=RANK.EQ(number,ref,[order])
True or False:
If the RANK.EU’s order argument is 0 or left blank, the values are ranked in descending order
True
True or False:
If the RANK.EU’s order argument is a positive number, the values are ranked in ascending order
True
Which function determines the nth largest value in a range?
The Large function
LARGE(range,cell that holds rank)
Which function determines the nth smallest value in a range?
The Small function
SMALL(range,cell that holds rank)
Which function counts the number of items in a range that meet specified criteria?
The COUNTIF function
COUNTIF(range,criteria)
Which function do you use to add all values in a range that meet the specified criteria?
The SUMIF function
SUMIF(range,criteria,sum_range)
Which argument identifies the corresponding cell range to sum if specified criteria have been met in the range established by the range argument?
The sum_range argument
What determines the outcome of changing one or more input values and evaluates the recalculated results?
What-if analysis
Which tool specifies the outcome you want and which input value you want to vary?
The goal seek tool
List 2 limitations of the goal seek tool
- It only allows you to vary a single output
2. The input must be a constant value
What is an analytical method that creates artificially generated data to imitate real data?
A simulation
Which function do you use to randomly assign a number between two values?
The RANDBETWEEN function
RANDBETWEEN(bottom,top)
Which function do you use to calculate probable costs?
The ROUND function
Which function do you use to assign a random value?
The RAND function
