UGBA 104 COMPREHENSIVE UPDATED
QUESTIONS AND ANSWERS SURE A+
✔✔correlation coefficient - ✔✔Definition:
A standardized measure of linear association between two variables that takes on
values between −1 and +1. Values near −1 indicate a strong negative linear
relationship, values near +1 indicate a strong positive linear relationship, and values
near zero indicate the lack of a linear relationship.
✔✔histogram - ✔✔Definition:
A graphical presentation of a frequency distribution, relative frequency distribution, or
percent frequency distribution of quantitative data constructed by placing the bin
intervals on the horizontal axis and the frequencies, relative frequencies, or percent
frequencies on the vertical axis.
✔✔relative frequency distribution - ✔✔Definition:
A tabular summary of data showing the fraction or proportion of data values in each of
several nonoverlapping bins.
✔✔growth factor - ✔✔Definition:
The percentage increase of a value over a period of time is calculated using the formula
(1 − growth factor). A growth factor less than 1 indicates negative growth, whereas a
growth factor greater than 1 indicates positive growth. The growth factor cannot be less
than zero.
✔✔ decision analysis - ✔✔Definition:
A technique used to develop an optimal strategy when a decision maker is faced with
several decision alternatives and an uncertain set of future events.
✔✔Internet of Things (IoT) - ✔✔Definition:
The technology that allows data collected from sensors in all types of machines to be
sent over the Internet to repositories where it can be stored and analyzed.
QUESTIONS AND ANSWERS SURE A+
✔✔correlation coefficient - ✔✔Definition:
A standardized measure of linear association between two variables that takes on
values between −1 and +1. Values near −1 indicate a strong negative linear
relationship, values near +1 indicate a strong positive linear relationship, and values
near zero indicate the lack of a linear relationship.
✔✔histogram - ✔✔Definition:
A graphical presentation of a frequency distribution, relative frequency distribution, or
percent frequency distribution of quantitative data constructed by placing the bin
intervals on the horizontal axis and the frequencies, relative frequencies, or percent
frequencies on the vertical axis.
✔✔relative frequency distribution - ✔✔Definition:
A tabular summary of data showing the fraction or proportion of data values in each of
several nonoverlapping bins.
✔✔growth factor - ✔✔Definition:
The percentage increase of a value over a period of time is calculated using the formula
(1 − growth factor). A growth factor less than 1 indicates negative growth, whereas a
growth factor greater than 1 indicates positive growth. The growth factor cannot be less
than zero.
✔✔ decision analysis - ✔✔Definition:
A technique used to develop an optimal strategy when a decision maker is faced with
several decision alternatives and an uncertain set of future events.
✔✔Internet of Things (IoT) - ✔✔Definition:
The technology that allows data collected from sensors in all types of machines to be
sent over the Internet to repositories where it can be stored and analyzed.
