MIS 301 QUIZ 1 QUESTIONS AND VERIFIED
ACCURATE ANSWERS
Between this data point and that data point - Answers - variation
Between this observed value and that observed value - Answers - variation
____________ is caused by chance or cause - Answers - variation
You shouldn't do anything - Answers - chance
You should do something - Answers - cause
Is variation meaningful? Chance - Answers - no
Is variation meaningful? Cause - Answers - yes
How does data affect business people? - Answers - - look to data for answers
- that data will vary
- that variation cannot be eliminated
Why business people use data? - Answers - - learn from the variation
- manage the variation
- lessen the variation
Characteristics of numbers - Answers - - impartial
- precise
- emotionless
Categorizing or describing attributes of a population (counting) - Answers - qualitative
data
Always numbers (counting and measuring) - Answers - quantitiative data
Sample method where each member of the population has an equal chance of being
selected, done with replacement - Answers - random sampling
Each sample of the same size has an equal chance of being selected, done without
replacement - Answers - simple random sampling
Divide the population into groups (strata) and then take a proportionate number from
each group - Answers - stratified sample
, Divide the population into culsters (groups), then randomly select some of the clusters -
Answers - cluster sample
Randomly select starting point and take every nth piece fo data from a listing of the
population - Answers - systematic sample
Using results that are readily available - Answers - convenience sampling
Sample count/size - Answers - n
Sample mean - Answers - x̅
Sample standard deviation - Answers - S
Sample variance - Answers - s²
Sample correlation coefficient - Answers - r
Sample error - Answers - e
Population count/size - Answers - N
Population mean - Answers - μ
Population standard deviation - Answers - σ
Population variance - Answers - σ²
Population correlation coefficient - Answers - ρ
Population error - Answers - E
What kind of statistics are....
-observed data
-measurements
-graphs
-tables
-characteristics - Answers - descriptive
What kind of statistics are....
-unobserved data
-predictive analytics
-confidence invervals
-hypothesis testing
-statistical modeling - Answers - inferential
ACCURATE ANSWERS
Between this data point and that data point - Answers - variation
Between this observed value and that observed value - Answers - variation
____________ is caused by chance or cause - Answers - variation
You shouldn't do anything - Answers - chance
You should do something - Answers - cause
Is variation meaningful? Chance - Answers - no
Is variation meaningful? Cause - Answers - yes
How does data affect business people? - Answers - - look to data for answers
- that data will vary
- that variation cannot be eliminated
Why business people use data? - Answers - - learn from the variation
- manage the variation
- lessen the variation
Characteristics of numbers - Answers - - impartial
- precise
- emotionless
Categorizing or describing attributes of a population (counting) - Answers - qualitative
data
Always numbers (counting and measuring) - Answers - quantitiative data
Sample method where each member of the population has an equal chance of being
selected, done with replacement - Answers - random sampling
Each sample of the same size has an equal chance of being selected, done without
replacement - Answers - simple random sampling
Divide the population into groups (strata) and then take a proportionate number from
each group - Answers - stratified sample
, Divide the population into culsters (groups), then randomly select some of the clusters -
Answers - cluster sample
Randomly select starting point and take every nth piece fo data from a listing of the
population - Answers - systematic sample
Using results that are readily available - Answers - convenience sampling
Sample count/size - Answers - n
Sample mean - Answers - x̅
Sample standard deviation - Answers - S
Sample variance - Answers - s²
Sample correlation coefficient - Answers - r
Sample error - Answers - e
Population count/size - Answers - N
Population mean - Answers - μ
Population standard deviation - Answers - σ
Population variance - Answers - σ²
Population correlation coefficient - Answers - ρ
Population error - Answers - E
What kind of statistics are....
-observed data
-measurements
-graphs
-tables
-characteristics - Answers - descriptive
What kind of statistics are....
-unobserved data
-predictive analytics
-confidence invervals
-hypothesis testing
-statistical modeling - Answers - inferential
