SECTION 2 Flashcards
Define correlation.
The degree of relationship between two or more sets of data.
Define the term linear correlation.
The degree of relationship between two variables that have a constant variation.
Define positive correlation.
A condition where, as one variable increases, the other variable also increase.
Define negative correlation.
Results when two variable move in opposite directions at the same rate.
What does the line of regression indicate?
The trend of the data relationships.
What does the line of regression calculation allow?
It allows you to statistically draw a trend line through a pre-plotted scatter diagram of data.
Define a time series.
Data observations over a consecutive period of time.
Variations of data in a time series will usually fit into what three categories?
Secular variations, seasonal variations, or cyclical variations.
When observations in a time series are made at intervals shorter than a year (weekly, monthly, or
quarterly), what type of variations may be exhibited?
Seasonal variations.
How many years of data does it take to determine if a variation is seasonal?
Two years.
What is a basic method of predicting a trend?
By extrapolation.
What are the two methods of extrapolation?
Mechanical and mathematical.
Explain the mathematical method of extrapolation.
It uses a formula method to determine the trend value and computes for the rate of change of the trend
value.
Mutually exclusive events.
When one event occurring prohibits another from occurring.
Independent event.
The occurrence of one event that does not affect the occurrence or likelihood of another event
occurring.
Discrete data.
Data that vary only as whole numbers.
Continuous data.
Data that can be measured in infinite amounts.
Tossing a head and tossing a tail in one toss of a coin.
Mutually exclusive.
Tossing a head in one toss of a coin, and tossing a head on another toss of the coin.
Independent.
Finding the left front tire flat on your car or finding the right front tire flat on your car.
Independent.
Rolling a one or a four on one roll of a die.
Mutually exclusive.
What does the MC rate represent?
Represents the percentage of all possessed aircraft that are capable of fulfilling at least one of their wartime
missions.
What are maintenance status codes designed for?
To describe an aircraft’s ability to perform a unit-assigned mission.