Test 1

Question 1

Data

Answer 1

-merely a raw material of knowledge

-facts… collected, analyzed and summarized for presentation and interpretation

Question 2

stats

Answer 2

art and science of collecting, analyzing, presenting, and interpreting data

Question 3

data set

Answer 3

all data collected in a particular study

Question 4

variables

Answer 4

characteristics of the subjects about which we collect info

Question 5

2 types of variables

Answer 5

qualitative (categorical)

quanitative (numerical)

Question 6

qualitative (categorical)

Answer 6

Ex: gender, maried, ….

Question 7

quanitative (numerical)

Answer 7

Ex: able to find the average

Question 8

types of categorical

Answer 8

ordinal (natural order) exam score

nominal (no natural order) major

Question 9

Binary variable

Answer 9

two options

Question 10

dummy variable

Answer 10

0 and 1

Question 11

2 types of numerical

Answer 11

discrete- count all possible values (all possible values can be listed)

continous- anything related to height, weight, money (can take any value within some interval)

Question 12

sampling should be?

Answer 12

random, represenative of the population

Question 13

3 structures of data

Answer 13

cross sectional

time series

panel data

Question 14

cross sectional

Answer 14

data collected over sample units in a particular time period (snapshot)

Question 15

time series

Answer 15

observations over time

Question 16

panel data

Answer 16

time series for each cross sectional member, same observations over time

Question 17

descriptive statistics

Answer 17

measures of location (mean,median,mode,percentile,quartile)

Question 18

central tendency

Answer 18

where the data are located or “centered” along the number line

Question 19

mean

Answer 19

central location/avg of all data values

Question 20

sample mean

Answer 20

x bar

Question 21

population mean

Answer 21

mu

Question 22

median

Answer 22

value in the middle when data items are arranged in ascending order (annual income/property value)

Question 23

mode (2 types)

Answer 23

piece of data that occurs most frequently in the data set (two modes- bimodel, more then 2 -multi model)

Question 24

measures of variablity

Answer 24

range

Question 25

percentile

Answer 25

the value below which a percentage of data falls

Question 26

quartiles

Answer 26

25th, 50th, 75th IQR

Question 27

frequency distribution

Answer 27

a tabalar summary of data showing number of observations in several non overlaping categories

Question 28

histagram

Answer 28

graph that gives an idea of the shape of a sample indicating regions where sample points are concentrated and regions where they are sparse (varaiable of interest placed on the horizontal axis)

Question 29

histagram symmetry

Answer 29

perfect symmetry- right is a mirror of the left

skewed to the side of the longer tail (skewed to the left -, skewed to the right +)