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CFA L1 > Quant Statistical Concepts And Marker Returns > Flashcards

Quant Statistical Concepts And Marker Returns Flashcards

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CFA 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
Q

Measure of central tendency

A

A quantitative measure that specifies where data are centered

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26
Q

Measurement Scales

A

A scheme of measuring differences. The four type of measurement scales are nominal, ordinal, interval and ratio

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27
Q

Measures of location

A

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

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28
Q

Median

A

The value of the middle item of a set of items that has been sorted into ascending or descending order; The 50th percentile

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29
Q

Mesokurtic

A

Describes a distribution with kurtosis identical to that of the normal distribution

30
Q

Modal Interval

A

With reference to grouped data, the most frequently occurring interval

31
Q

Mode

A

The most frequently occurring value in a set of observations

32
Q

Nominal Scale

A

A measurement scale that categorized data but does not rank them

33
Q

Ordinal Scale

A

A measurement scale that sorts data into categories that are ordered (ranked) with respect to some characteristic

34
Q

Parameter

A

A descriptive measure computed from or used to describe a population of data, conventionally represented by Greek letters

35
Q

Percentiles

A

Quantities that divide a distribution into 100 equal parts

36
Q

Platykurtic

A

Describes a distribution that has relatively less weight in the tails than a normal distribution

37
Q

Population

A

All members of a specified group

38
Q

Population mean

A

The arithmetic mean value of a population; the arithmetic mean of all observations or values in the population

39
Q

Population Standard Deviation

A

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
Q

Population variance

A

A measure of dispersion relating to a population, calculated as the mean of squared deviations around the population mean

41
Q

Quintile

A

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

42
Q

Quartiles

A

Quartiles that divide a distribution into for equal parts

43
Q

Quintiles

A

Quartiles that divide a distribution into 5 equal parts

44
Q

Range

A

The difference between the maximum and minimum values in a data set

45
Q

Ratio Scales

A

A measurement scale that has all the characteristics of interval measurement scales as well as a true zero point as the origin

46
Q

Relative dispersion

A

The amount off dispersion relative to a reference value or benchmark

47
Q

Relative frequency

A

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
Q

Sample

A

A subset of a population

49
Q

Sample excess kurtosis

A

A sample measure of the degree of a distributions kurtosis in excess of the normal distributions kurtosis.

50
Q

Sample Kurtosis

A

A sample measure of the degree of a distributions peakedeness

51
Q

Sample Mean

A

The sum of the sample observations divided by the sample size

52
Q

Sample Skewness

A

A sample measure of degree of asymmetry of a distribution

53
Q

Sample standard deviation

A

The positive square root of the sample variance

54
Q

Sample Statistic

A

A quantity computed from or used to describe a sample

55
Q

Sample Variance

A

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
Q

Semi deviation

A

The positive square root of the semi variance

57
Q

Semilogarithmic

A

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
Q

Semi variance

A

The average squared deviation below the mean

59
Q

Skewed

A

Not symmetrical.

60
Q

Skewness

A

A quantitative measure of skew(lack of symmetry); a synonym of skew

61
Q

Standard deviation

A

The positive square root of the variance; a measure of dispersion in the same units as the original data

62
Q

Statistic

A

A quantity computed from or used to describe a sample of data

63
Q

Statistical Inference

A

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
Q

Target Semideviation

A

The positive square root of target semi variance

65
Q

Target semivariance

A

The average squared deviation below a target value

66
Q

Time-series data

A

Observations of a variable over time

67
Q

Trimmed mean

A

A mean computed after excluding a stated small percentage of the lowest and highest observations

68
Q

Variance

A

The expected value (probability-weighed average) of squared deviations from a random variables expected value

69
Q

Weighted mean

A

An average in which each observation is weighted by an index of its relative importance

70
Q

Winsorized mean

A

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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