MSIS 3223 Exam 1 Questions &
Answers(RATED A+)
Covariance - ANSWERa measure of linear association between two variables, X and Y
Correlation - ANSWERmeasure of the linear relationship between two variables, X and Y, which does
not depend on the units of measurement. is measured by the coefficient.
For two variables a __________ correlation coefficient indicates a linear relationship exists for which
one variable increases as the other also increases. - ANSWERpositive
Coeffecient of Variation - ANSWERprovides a relative measure of the dispersion in data relative to
the mean and is defined as CV=Standard Deviation/Mean.
The coefficient of variation provides a relative measure of risk to return. The smaller the coefficient
of variation, the ___________ the relative risk is for the return provided. - ANSWERsmaller
Kurtosis - ANSWERrefers to the peakedness or flatness of a histogram
The coefficient of skewness - ANSWERmeasures the degree of asymmetry of observations around the
mean
Skewness - ANSWERdescribes the lack of symmetry data
The reciprocal of the coefficient of variation, called _______________, is often used because it is
easier to interpret. - ANSWERreturn to risk
Variance - ANSWERaverage of the squared deviations of the observations from the mean.
square root of the variance
, Dispersion - ANSWERrefers to the degree of variation in the data, that is, the numerical spread (or
compactness) of the data. Several statistical measures characterize dispersion: the range,
interquartile range, variance, and standard deviation.
Range - ANSWERthe difference between the maximum value and the minimum value in the data set.
Categorical Data - ANSWERnaturally define the groups in a frequency distribution.
Frequency Distribution - ANSWER• table that shows the number of observations in each of several
non-overlapping groups. A graphical depiction of this in the form of a column chart is called a
histogram.
Relative Frequency - ANSWERFrequencies may be expressed as a fraction, or proportion of the total
Interquartile Range - ANSWEROften called the midspread, it is the difference between the first and
third quartiles
Measures of location - ANSWERprovide estimates of a single value that in some fashion represents
the "centering" of a set of data. The most common is the average. The average is formally called the
arithmetic mean (or simply the mean) which is the sum of the observations divided by the number of
observations.
specifies the middle value when the data are arranged from least to greatest is the median. Half of
the data are below the median, and half of the data are above it.
In _________________, the elements of a data set are typically labeled as subscripted variables. -
ANSWERstatistical notation
population - ANSWERconsists of all items of interest for a particular decision or investigation.
sample - ANSWERsubset of a population
Most populations are too large to deal with, thus sampling is _________ - ANSWERnecessary
Answers(RATED A+)
Covariance - ANSWERa measure of linear association between two variables, X and Y
Correlation - ANSWERmeasure of the linear relationship between two variables, X and Y, which does
not depend on the units of measurement. is measured by the coefficient.
For two variables a __________ correlation coefficient indicates a linear relationship exists for which
one variable increases as the other also increases. - ANSWERpositive
Coeffecient of Variation - ANSWERprovides a relative measure of the dispersion in data relative to
the mean and is defined as CV=Standard Deviation/Mean.
The coefficient of variation provides a relative measure of risk to return. The smaller the coefficient
of variation, the ___________ the relative risk is for the return provided. - ANSWERsmaller
Kurtosis - ANSWERrefers to the peakedness or flatness of a histogram
The coefficient of skewness - ANSWERmeasures the degree of asymmetry of observations around the
mean
Skewness - ANSWERdescribes the lack of symmetry data
The reciprocal of the coefficient of variation, called _______________, is often used because it is
easier to interpret. - ANSWERreturn to risk
Variance - ANSWERaverage of the squared deviations of the observations from the mean.
square root of the variance
, Dispersion - ANSWERrefers to the degree of variation in the data, that is, the numerical spread (or
compactness) of the data. Several statistical measures characterize dispersion: the range,
interquartile range, variance, and standard deviation.
Range - ANSWERthe difference between the maximum value and the minimum value in the data set.
Categorical Data - ANSWERnaturally define the groups in a frequency distribution.
Frequency Distribution - ANSWER• table that shows the number of observations in each of several
non-overlapping groups. A graphical depiction of this in the form of a column chart is called a
histogram.
Relative Frequency - ANSWERFrequencies may be expressed as a fraction, or proportion of the total
Interquartile Range - ANSWEROften called the midspread, it is the difference between the first and
third quartiles
Measures of location - ANSWERprovide estimates of a single value that in some fashion represents
the "centering" of a set of data. The most common is the average. The average is formally called the
arithmetic mean (or simply the mean) which is the sum of the observations divided by the number of
observations.
specifies the middle value when the data are arranged from least to greatest is the median. Half of
the data are below the median, and half of the data are above it.
In _________________, the elements of a data set are typically labeled as subscripted variables. -
ANSWERstatistical notation
population - ANSWERconsists of all items of interest for a particular decision or investigation.
sample - ANSWERsubset of a population
Most populations are too large to deal with, thus sampling is _________ - ANSWERnecessary
