Chapter 3 ( SEMI FINALS)

Question 1

is the practice or science of collecting and analyzing numerical data in large quantities,

Answer 1

Statistics

Question 2

is a central or typical value for a probability
distribution.

Answer 2

Central tendency

Question 3

It may also be called a center or location of the distribution.

Answer 3

Central tendency

Question 4

The most common measures of central tendency are the

Answer 4

arithmetic mean
the median
the mode

Question 5

is the sum of all measurements divided by the number of observations.

Answer 5

Arithmetic Mean

Question 6

simply an average of the data.

Answer 6

Mean

Question 7

is the “midpoint” of our data that separates the upper and lower half of the data set.

Answer 7

Median

Question 8

the most frequent value in the data set.

Answer 8

Mode

Question 9

This is the only central tendency measure that
can be used with nominal data, which have purely qualitative category assignments

Answer 9

Mode

Question 10

of a distribution is typically contrasted with its dispersion or variability;

Answer 10

Central Tendency

Question 11

also called
variability, scatter, or spread

Answer 11

Dispersion

Question 12

is simply the difference between the smallest and largest data point in the set.

Answer 12

Range

Question 13

is the average of the absolute deviations from a central point.

Answer 13

Mean Absolute Deviation

Question 14

It is a summary statistic of statistical dispersion or variability.

Answer 14

Mean Absolute Deviation

Question 15

is another way of measuring the spread between numbers in a data set.

Answer 15

Variance

Question 16

it measures how far each number in the set is from the mean.

Answer 16

Variance

Question 17

is simply the square root of the Variance.

Answer 17

Standard Deviation

Question 18

It is the most commonly used
measure to express dispersion.

Answer 18

Standard Deviation

Question 19

are cut points dividing the range of a probability distribution into continuous intervals
with equal probabilities, or dividing the observations in a sample in the same way.

Answer 19

Quantiles

Question 20

Dive the data into 4 parts

Answer 20

Quartiles

Question 21

divide data into 10

Answer 21

Deciles

Question 22

divide into 1% segments

Answer 22

Percentiles

Question 23

Quartiles are
often used as a measure of spread of the data in what is called the

Answer 23

interquartile range (IQR

Question 24

simply the difference between the third quartile and first quartile.

Answer 24

Interquartile Range

Question 25

is a way of standardizing scores on the same scale by dividing a
score’s deviation by the standard deviation in a data set.

Answer 25

A z-score, or standard score,

Question 26

it measures the number of standard deviations
a given data point is from the mean.

Answer 26

Z-score or Standard Score

Question 27

represents the ratio of the standard deviation to the mean,

Answer 27

Coefficient of Variation

Question 28

allows investors to determine how much volatility, or risk,
is assumed in comparison to the amount of return expected from investments.

Answer 28

Coefficient of Variation

Question 29

refers to distortion or asymmetry in a symmetrical bell curve, or normal distribution, in
a set of data.

Answer 29

Skewness

Question 30

means the Mean is greater than the Median

Answer 30

Positive Skew

Question 31

means the Mean is less than the Median.

Answer 31

Negative Skew

Question 32

is a statistical measure that expresses the extent to which two variables are linearly
related

Answer 32

Correlation

Question 33

meaning they change together at a constant rate

Answer 33

Correlation

Question 34

It’s a common tool for describing simple
relationships without making a statement about cause and effect.

Answer 34

Correlation

Question 35

Colloquially, measures of central
tendency are often called

Answer 35

Averages