Quiz 2 Flashcards
The average or arithmetic mean
Mean
The value that divides the distribution in half
Median
Value which most occur often
Mode
The _____ is used for numerical data and for symmetric distributions
mean
The _____ is used for ordinal data or for numerical data if the distribution is skewed
median
The ____ is used primarily for bimodal distribution
mode
The ____ is generally used for observations measured on a logarithmic scale.
geometric mean
Other names of MEASURE OF SPREAD
“measures of dispersion” / “measures of variation”
It described how much the value of sentences varies around the central tendency (mean, median, mode)
MEASURE OF SPREAD
Difference between the largest/highest and smallest/lowest values.
RANGE
the middle 50% of the data, the spread between the first and third quartiles
Interquartile Range
Describe how observations cluster around the mean and many statistical tests.
STANDARD DEVIATION
Standard deviation is also the measure of the ______ about their mean.
spread of data
A mathematical expression of the average squared deviations from the mean.
Variance
A statistical measure of the relative dispersion of data points in a data series around the mean
Coefficient Of Variation
_____ is calculated as the square root of variance
STANDARD DEVIATION
is a measure of ris
VOLATILITY
The range can be used to approximate the standard deviation, it is called as the ____
range rule of thumb
Measures how precisely the population mean is estimated by the sample mean
STANDARD ERROR
Score is above the mean
Positive Z-score –
Score is below the mean
Negative Z-score
Why are Z-Scores Important?
- Standardization
- Probability & Normal Distribution
- Outlier Detection
- Statistical Inference
MEASURE OF SHAPE
(1) The Normal Distribution
(2) Skewness
(3) Kurtosis
Is a normal distribution with a mean of zero and standard deviation of 1.
STANDARD NORMAL DISTRIBUTION