Flash Cards
1
Q
There are two types of statistics
(Analytics)
A
Descriptive and Inferential
2
Q
Descriptive statistics are used to ______
A
Inform / Explanatory
3
Q
Inferential statistics are used to ______
A
Predict / Trend
4
Q
Name the 4 levels of measurement
A
(NOIR) Nominal, Ordinal, Interval Ratio
5
Q
Nominal
A
no number and no sequence
6
Q
ordinal
A
no numbers but there is a sequence
7
Q
Interval
A
zero is just a place holder the numbers could be negative
8
Q
Ratio
A
zero is the lowest you can go. zero means absent of anything
9
Q
Outliers create this type of error
A
Out-of Range
10
Q
Unpredictable error
A
Random Error – No correlation
11
Q
Error may occur from missing data.
(Example: Space not filled in)
A
Omission Error – Distorted results
12
Q
This error repeats itself
A
Systematic Error – Skewed results
13
Q
What is the process of quality control?
A
Reduce/ minimize errors
14
Q
All variable measurements and
manipulations are under the
researcher’s control
A
Experimental study
15
Q
Used when impractical or impossible to
control the conditions of the study
A
Observational study
16
Q
Participants are not told if they are in
the treatment group or control group
A
Blind Study
17
Q
The procedure the researcher applies to
each subject
A
Treatments
18
Q
Neither the treatment allocator nor the
participants know who is in the
treatment group or control group
A
Double blind study
19
Q
Questions favor an outcome or the
interviewer ask questions that favor an
outcome.
A
Information Bias
20
Q
The average outcome (payoff) when the
future includes scenarios that may or
may not happen
A
Expected Monetary Value (EMV)
Analysis
21
Q
Observation points that are distant from
other observations.
A
Outliers
Note: Can be included or excluded in
analysis (causes skewness)
22
Q
Bias that occurs from not selecting a
random sample
A
Measurement bias
23
Q
Bias introduced because respondents
believe it will be beneficial if selected.
A
Conscious bias
24
Q
Each of the four quartile groups a
population can be divided
A
Quartiles
25
Measures the difference between the
third and first quartile
IQR: Inter-quartile range
Note: Must be ordered in lowest to highest
value
26
Used to study the composition of a data
set and examine the distribution
Box Plot
27
The order you pick you sample in does
not matter
Combination
Picking employees for a shift. Order doesn’t matter
28
Apply this rule when looking for two
events occurring (AND)
Multiplication
29
Use this rule when looking for one or the
other event happening (OR)
Addition
30
A technique to minimize total cost or
maximize profit based on constraints
Linear programming
31
A technique using a single independent
variable to predict a single dependent
variable
Linear regression
32
A technique using more than one
independent variable to predict a single
dependent variable
Multiple regression
33
Measures the strength of a linear
relationship
Correlation coefficient
34
Measures the goodness of fit in a
regression analysis
R2 (R-Square)
35
A simple regression using time as the
independent variable
Time series
36
A general slope upward or downward
over a period of time
Trend
37
Unforeseen circumstances causing
random deviations
Irregularity
38
Repetition in up and down patterns
Cyclicality
39
Regular pattern within a single year
Seasonality
40
Represents the probability that a variable
falls with a certain range
Cumulative distribution
41
A list of all the different probabilities of
each outcome that can occur
Probability Distribution
42
Measures of central tendency are
approximately equal (Mean and Median)
Normal Distribution
43
Used to compare the mean of three or
more groups
ANOVA
44
ANOVA uses this test statistics
F-value
(must be higher than critical value to reject the null)
45
T-test uses this test statistic
T-value
(must be higher than critical value to reject the null)
46
A correlation is weak if the coefficient is
close to ____
Zero
47
A correlation is strong if the coefficient is
close to ____
1 or -1
48
Illustrates performance measurements
over a period of time
Run Chart
49
Illustrates limits or constraints a process
should not exceed
Control Chart
50
Assists in brainstorming issues that are
causing a problem
Cause and Effect Diagram
Not measurements!
51
Visual tool to understand a process
Flowchart
52
Easy tool to collect data to create other
charts
Check Sheet
53
Graphical display of a data set with one
bar for each category
Histogram and Pareto
54
Graphical display of data set centered
Histogram
55
Graphical display of data set in highest
to lowest order
Pareto
56
Used for potential relationships and
correlation between variables
Scatter diagram
57
Can the seven tools be used
independently?
Yes
58
What percent of quality problems does
Ishikawa claim the seven tools can
solve?
90% - 95%
59
Diagram demonstrating all of the
elements that can influence a process
before it starts.
SIPOC (Supplier – Input – Process –
Output – Customer)
60
Manufacturing approach to improving
processes.
Six Sigma
61
In manufacturing, statistics is used for:
Quality Control
62
Plan - Do – Study – Act
Which step is a response to analytical
results?
act
63
Shows whether a result meets a
requirement or not
Attribute
64
Shows how well a result meets the
requirement
Variable
65
Variations accepted as the normal part
of the process
Common cause variation
66
Variation from an abnormality causing
large discrepancy in results
Special cause variation
67
Model of designing, analyzing, and
scoring tests
IRT: Item Response Theory
68
How does the government differ than
private sector cost-benefit analysis?
Government benefits aren’t always
money. Could be flood prevention or
welfare.
69
Compares one individual’s performance
to other individuals
Norm Referenced
70
Compare individual’s performance to a
standard score (Example: Cut Score 64%)
Criterion referenced
71
Management strategy that uses results as
the central measurement of performance
RBM: Results Based Management
72
What is Big Data?
Very large data sets
73
Used to count ALL of the existing cases
in a disease.
Prevalence
74
Used to count only the NEW cases of a
disease.
Incidence (Incident rate)
75
Compare individual’s performance to a
standard score (Example: Cut Score 64%)
Criterion referenced
76
Used to analyze if funding is worth the
outcome of a project
Cost-benefit analysis
77
Performance measure for one specific
goal
KPI – Key performance indicator
78
Multiple KPIs are displayed for the big
picture
KPI dashboard
More than one chart is needed
79
What does a balanced scorecard
measure?
CLIF – (customer, learning, internal
process, financial performance) Are we
meeting the strategy?
80
Advantage or Disadvantage of balanced
score card? Requires time and effort to
establish a meaningful scorecard
Disadvantage
81
Advantage or Disadvantage of balanced
score card? Improves Internal and
External Communication
Advantage
82
Balanced Scorecard: Difficult to maintain
momentum
Disadvantage
83
Balanced Scorecard: Improves
organizational alignment
Advantage
84
Balanced Scorecard: Links strategy to
organizational results
Advantage
85
KPI: Data driven results make it easier to
quantify performance
advantage
86
KPI: Difficult to change once set up
Disadvantage
87
Descriptive
past data only
88
predictive
past data to predict the future
89
prescriptive
predictive plus optimization
90
optimization
do something to make it better
91
out of range error
error that don't fit
92
omission error
missing info
93
random error
will fix it's self
94
systematic error
you need to do something to fix it
95
x predicts Y
independent predicts dependent
96
Mean
Average. Add all the numbers in the set, then divide by the count
Mean because math is mean, and you have to do math.
97
median
middle 50% of the data is high and 50% is lower
Median like the middle of the road
98
Mode
most, the number that shows up the most.
99
T-test
Compare 2 groups= t-stat
100
Anova
comparing more than 2 groups = f stat
101
Chi squared
frequency
102
Regression
relanship between data
103
R squared
goodness of fit
104
Cross over
cost of each option and at what point is each option the most cost effective
105
Linear programming
minimize cost
106
P-D-C-A
Plan, Do, Check, Act (we only act once)
107
S-I -P-O-C
Supplier, Input, Process, Output, Customer
108
Run chart
over time......line chart
109
Control chart
in limits. a line chat with limits
110
cause and effect
process identification (Why)
111
Flow chart
Process identification ( where)
112
Check sheet
collect
113
Histogram chart
distribution is centered
114
Pareto
distribution is high to low
115
bell curve deviation %
1-34.1%
2-13.6%
3-2.1%
-1 & 1 = 68%
-2 & 2 = 95%
-3 & 3= 99.7%
116
observed score
True score + Random error
or
True score+ random error + systemic error
117
Nps
customer loyalty
118
Score card
FLIC
Financial
Learning
Internal business process
Customer
119
Advantages of KPI
helps track financial
data driven results
can be across an entire organization
120
Disadvantages of KPI
Expensive and requires ongoing maintenance
Small KPI changes can be viewed as meaningful when they are not
can make you short term focused
