BSNS112 Exam Prep Questions And Answers (202472025)
Categorical (Qualitative) data is either: - ✔✔Nominal (stand alone/label); or
Ordinal (ordered/ranked)
Numerical (Quantitative) data is either: - ✔✔Discrete (whole numbers)
Continuous (infinite options)
Ways to present categorical data: - ✔✔Bar graphs (percentages labelled), Pie graphs, Cross
tabulations, Stacked bar graph, clustered bar charts
Range - ✔✔Maximum - minimum
Variance - ✔✔Squared deviation around the mean
Coefficient of variation - ✔✔Relative measure of variability
A skewness value more than _____ its standard error is taken to indicate a ___________
departure from symmetry. - ✔✔twice, significant
Left skew - ✔✔Negative skew
Right skew - ✔✔Positive skew
Kurtosis - ✔✔Extent to which observations cluster around a central point and fatness of tails.
Empirical rule - ✔✔Values for Z and t
Which distribution is the odd one out w.r.t. skewness?
A. Incomes
, B. Household debt
C. Age when people retire
D. Capital value of publicly listed companies - ✔✔
very strong correlation - ✔✔r > 0.9
strong correlation - ✔✔0.75 < r < 0.9
moderate correlation - ✔✔0.4 < r < 0.75
weak correlation - ✔✔r < 0.4
critical value for negative, one-tailed test "<" (1 proportion) - ✔✔-1.645
critical value for positive, one-tailed test ">" (1 proportion) - ✔✔1.645
critical value for two tailed test "not equal to" (1 proportion) - ✔✔+/-1.96
unequal variances - ✔✔value of levene's test is less than 0.1
chi-squared test of independence - ✔✔ei=(column total x row total)/total sample size
d.f.=(c-1)(r-1)
chi-squared goodness of fit - ✔✔ei=n x pi
d.f.=k(no. of categories)-1
if test stat is greater than the critical value w/ degrees of freedom - ✔✔reject H0
Categorical (Qualitative) data is either: - ✔✔Nominal (stand alone/label); or
Ordinal (ordered/ranked)
Numerical (Quantitative) data is either: - ✔✔Discrete (whole numbers)
Continuous (infinite options)
Ways to present categorical data: - ✔✔Bar graphs (percentages labelled), Pie graphs, Cross
tabulations, Stacked bar graph, clustered bar charts
Range - ✔✔Maximum - minimum
Variance - ✔✔Squared deviation around the mean
Coefficient of variation - ✔✔Relative measure of variability
A skewness value more than _____ its standard error is taken to indicate a ___________
departure from symmetry. - ✔✔twice, significant
Left skew - ✔✔Negative skew
Right skew - ✔✔Positive skew
Kurtosis - ✔✔Extent to which observations cluster around a central point and fatness of tails.
Empirical rule - ✔✔Values for Z and t
Which distribution is the odd one out w.r.t. skewness?
A. Incomes
, B. Household debt
C. Age when people retire
D. Capital value of publicly listed companies - ✔✔
very strong correlation - ✔✔r > 0.9
strong correlation - ✔✔0.75 < r < 0.9
moderate correlation - ✔✔0.4 < r < 0.75
weak correlation - ✔✔r < 0.4
critical value for negative, one-tailed test "<" (1 proportion) - ✔✔-1.645
critical value for positive, one-tailed test ">" (1 proportion) - ✔✔1.645
critical value for two tailed test "not equal to" (1 proportion) - ✔✔+/-1.96
unequal variances - ✔✔value of levene's test is less than 0.1
chi-squared test of independence - ✔✔ei=(column total x row total)/total sample size
d.f.=(c-1)(r-1)
chi-squared goodness of fit - ✔✔ei=n x pi
d.f.=k(no. of categories)-1
if test stat is greater than the critical value w/ degrees of freedom - ✔✔reject H0
