Quantitative Analysis Flashcards
What are the four different types of measurement/data?
Nominal - categories only; no order (qualitative)
Ordinal - ordered/ranked categories; values are meaningless (qualitative)
Interval - difference between values has meaning, but ratio isn’t consistent (quantitative)
Ratio - both interval and ratio have meaning (quantitative)
What is the only suitable measure of central tendency for ordinal data?
Median
What is the only measure of central tendency that can be used for nominal data?
Mode
What is the typically the preferred measure of central tendency for skewed data?
Median
In a normal or Gaussian distribution, what percentage of the distribution is within two standard deviations below and above the mean?
95%
A larger variance means a ____ distribution; a smaller variance means a _____ distribution.
flatter; spikier
What would a z-score of more than 2 for an observation indicate?
The observation is more than two standard deviations away from the mean (is an outlier).
What is the standard error of a statistical sample?
The standard deviation of the sampling distribution.
What are standard acceptable significance levels (p-values) of a statistical test?
5% and 1%
What does a “t-test” test?
A test on the difference between means, e.g., to test if they are part of the same population.
What does a correlation coefficient measure?
The strength of a linear relationship between two variables.
What are the 5 methods for estimating population growth?
Linear Exponential (based on % change) Symptomatic Step-down ratio Cohort survival
What is the symptomatic method of estimating population growth?
The symptomatic method uses any available data indirectly related to population size, such as housing starts, or new drivers licenses. It then estimates the population using a ratio, such as the average household size (from the U.S. Census). For instance, with the average household size at 2.5, data on 100 new single-family building permits that are issued this year, would yield an estimate of 250 new people will be added to the community.
What is the step-down ratio method of estimating population growth?
This method uses the ratio of the population in a city and a county (or a larger geographical unit) at a known point in time, such as the decennial Census.
This ratio is used to project the current or future population. For example, the population of Plannersville is 20% of the county population in 2000. If we know that the county population is 20,000 in 2005, we can then estimate the population of Plannersville as 4,000 (20%).
What is economic base analysis?
Economic base analysis looks at basic and non-basic economic activities. Basic activities are those that can be exported, while non-basic activities are those that are locally oriented. The exporting industries make up the economic base of a region.
What is the location quotient of an industry, in economic base analysis?
The location quotient is the ratio of an industry’s share of local employment divided by its share of the nation (or other levels of government). A location quotient of less than one indicates an importing economy. If the quotient is greater than one then the area is an exporting economy.
What is shift-share analysis?
Shift-share analysis analyzes a local economy in comparison with a larger economy. Basically, decomposing the growth in employment by different parts. Part aligned with national growth (the share), part assigned to differential industry mix in the region, and a part that has to do with the regional competitiveness (the shift). Particularly interested in the regional shift part, which we can use to identify leading sectors (sectors doing better in the region than in the rest of the country).
This method uses employment information by sector for two points in time. For example, one may wish to compare employment by industry between 1990 and 2000. The total employment change in an industry between 1990 and 2000 is equal to the economic growth plus the differential shift plus the proportional shift.
What is input-output analysis?
Input-output analysis is a quantitative method that links suppliers and purchasers to determine the economic output of a region.
Input-output analysis can be used to determine the employment effect that a particular project has on a local economy.
Input-output analysis identifies primary suppliers, intermediate suppliers, intermediate purchasers, and final purchasers.
What defines an “urbanized area”?
The Census Bureau defines an urbanized area wherever it finds an urban nucleus of 50,000 or more people. These urbanized areas may or may not contain any individual cities of 50,000 or more.
