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CFA L1 > Quant Statistical Concepts And Marker Returns > Flashcards

Quant Statistical Concepts And Marker Returns Flashcards

1
Q

Absolute Dispersion

A

The amount of variability present without comparison to any reference point or benchmark

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2
Q

Absolute Frequency

A

The number of observations in a given interval (for grouped data)

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3
Q

Arithmetic Mean

A

The sum of the observations divided by the number of observations

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4
Q

Coefficient of variation

A

(CV) the ratio of a set of observations standard deviation to the observations mean value

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5
Q

Cost Averaging

A

The periodic investment of a fixed amount of money

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6
Q

Cross sectional data

A

Observations over individual units at a point in time as opposed to time series data.

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7
Q

Cumulative Relative frequency

A

For data grouped into intervals, the fraction of total observations that are less than the value of the upper limit of a stated interval

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8
Q

Descriptive Statistics

A

The study of how data can be summarized effectively

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9
Q

Dispersion

A

The variability around the central tendency

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10
Q

Excess kurtosis

A

Degree of kurtosis (fatness of trails) in excess of the kurtosis of the normal distribution.

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11
Q

Expected value

A

The probability-weighted average of the possible outcomes of the possible outcomes of a random variable

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12
Q

Fractile

A

A value at or below which a stated fraction of the data lies

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13
Q

Frequency distribution

A

A tabular display of data summarized into a relatively small number of intervals

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14
Q

Frequency polygon

A

A graph of a frequency distribution obtained by drawing straight lines joining successive points representing the class frequencies

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15
Q

Geometric Mean

A

A measure of central tendency computed by taking the nth root of the of n non-negative values

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16
Q

Harmonic Mean

A

A type of weighted mean computer by averaging the reciprocals of the observations, then taking the reciprocal average

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17
Q

Histogram

A

A bar chart of data that have been grouped into a frequency distribution

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18
Q

Interquartile range

A

The difference between the third and first quartiles of a data set

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19
Q

Interval

A

With reference to grouped data, a set of values within which an observation falls

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20
Q

Interval Scale

A

A measurement scale that not only ranks data but also gives assurance that the differences between scale values are equal

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21
Q

Kurtosis

A

The statistical measure that indicates the combined weight of the of a distribution relative to the rest of the distribution

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22
Q

Leptokurtic

A

Describes a distribution that has fatter tails than a normal distribution

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23
Q

Linear Interpolation

A

The estimation of an unknown value on the basis of two known values that bracket it

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24
Q

Mean absolute deviation

A

With reference to sample, the mean of the absolute values of the deviations from the sample mean

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25
Measure of central tendency
A quantitative measure that specifies where data are centered
26
Measurement Scales
A scheme of measuring differences. The four type of measurement scales are nominal, ordinal, interval and ratio
27
Measures of location
A quantitative measure that describes the location of distribution of data; includes not only measures of central tendency but also other measure such as percentiles
28
Median
The value of the middle item of a set of items that has been sorted into ascending or descending order; The 50th percentile
29
Mesokurtic
Describes a distribution with kurtosis identical to that of the normal distribution
30
Modal Interval
With reference to grouped data, the most frequently occurring interval
31
Mode
The most frequently occurring value in a set of observations
32
Nominal Scale
A measurement scale that categorized data but does not rank them
33
Ordinal Scale
A measurement scale that sorts data into categories that are ordered (ranked) with respect to some characteristic
34
Parameter
A descriptive measure computed from or used to describe a population of data, conventionally represented by Greek letters
35
Percentiles
Quantities that divide a distribution into 100 equal parts
36
Platykurtic
Describes a distribution that has relatively less weight in the tails than a normal distribution
37
Population
All members of a specified group
38
Population mean
The arithmetic mean value of a population; the arithmetic mean of all observations or values in the population
39
Population Standard Deviation
A measure of dispersion relating to a population in the same unit of measurement as the observations, calculated as the positive square root of the population variance analysis
40
Population variance
A measure of dispersion relating to a population, calculated as the mean of squared deviations around the population mean
41
Quintile
A value at or below which a stated fraction of the data lies
42
Quartiles
Quartiles that divide a distribution into for equal parts
43
Quintiles
Quartiles that divide a distribution into 5 equal parts
44
Range
The difference between the maximum and minimum values in a data set
45
Ratio Scales
A measurement scale that has all the characteristics of interval measurement scales as well as a true zero point as the origin
46
Relative dispersion
The amount off dispersion relative to a reference value or benchmark
47
Relative frequency
With reference to an interval of grouped data, the number of observations in the interval divided by the total number of observations in the sample
48
Sample
A subset of a population
49
Sample excess kurtosis
A sample measure of the degree of a distributions kurtosis in excess of the normal distributions kurtosis.
50
Sample Kurtosis
A sample measure of the degree of a distributions peakedeness
51
Sample Mean
The sum of the sample observations divided by the sample size
52
Sample Skewness
A sample measure of degree of asymmetry of a distribution
53
Sample standard deviation
The positive square root of the sample variance
54
Sample Statistic
A quantity computed from or used to describe a sample
55
Sample Variance
A sample measure of the degree of dispersion of a distribution, calculated by dividing the sum of the square deviations from the sample mean by the sample size minus 1
56
Semi deviation
The positive square root of the semi variance
57
Semilogarithmic
Describes a scale constructed so that equal intervals on the vertical scale represent equal rates of change, and equal intervals on the horizontal scale represent equal amounts of change.
58
Semi variance
The average squared deviation below the mean
59
Skewed
Not symmetrical.
60
Skewness
A quantitative measure of skew(lack of symmetry); a synonym of skew
61
Standard deviation
The positive square root of the variance; a measure of dispersion in the same units as the original data
62
Statistic
A quantity computed from or used to describe a sample of data
63
Statistical Inference
Making forecasts, estimates, or judgements about a larger from a smaller group actually observed; using a sample statistic into infer the value of an unknown population parameter
64
Target Semideviation
The positive square root of target semi variance
65
Target semivariance
The average squared deviation below a target value
66
Time-series data
Observations of a variable over time
67
Trimmed mean
A mean computed after excluding a stated small percentage of the lowest and highest observations
68
Variance
The expected value (probability-weighed average) of squared deviations from a random variables expected value
69
Weighted mean
An average in which each observation is weighted by an index of its relative importance
70
Winsorized mean
A mean computed after assigning a stated percent of the lowest values equal to one specified low value, and a stated percent of the highest values equal to one specified high value

CFA L1 (50 decks)

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