Quantitative Analysis - MAI | Complete Exam Review & Practice Questions with Verified Answers
Categorial variable which classifies characteristics by Nominal variables
name; yields "yes" or "no" answers
Categorical variable which facilitates ranking; prior Ordinal variables
expectation is implicit
Numerical variable created by counting (BD/BA count, Discreet variables
etc.)
Numerical variable created as a result of measurement Continuous variables
(Square footage, etc.)
In economics, the _____ is referred to as the expected Mean
value of a variable.
Which measure of central tendency is most apt to be Mean
influenced by extreme values in the data?
Which measure of central tendency can be interpreted Mode
as the most likely result?
Which measure of central tendency is not influenced by Median
an extreme outlier, thus making it typically a very good
indicator of central tendency?
A _________ consists of all of the items being studied. Population
A ______ is selected from the population. Sample
Numerical descriptions (such as the mean) of Parameters; Statistics
populations are called _____________, and numerical
descriptions of samples are called ___________.
Population variance formula
Population standard deviation
Sample variance formula
, Quantitative Analysis - MAI | Complete Exam Review & Practice Questions with Verified Answers
Sample standard deviation formula
Coefficient of variation formula (COV)
Q1 position formula by rounding rule Array the data from smallest to largest, round result from formula up or down
accordingly, using the result as the indication of the location of the quartile
position
Q3 position formula by rounding rule Array the data from smallest to largest, round result from formula up or down
accordingly, using the result as the indication of the location of the quartile
position
Finding quartile values using interpolation
Five number summary Minimum sample value, Q1, median, Q3, maximum sample value
Skewness if mean > median Right skewed (most of the data is to the right of the median in a box and whisker
plot, so mean will be between the median and Q3 in a box and whisker plot)
Skewness if mean < median Left skewed (most of the data is to the left of the median in a box and whisker
plot, so mean will be between the median and Q1 in a box and whisker plot)
A ____________ provides a pictorial representation of Box and whisker plot
how sample data are dispersed.
The likelihood that a specified event will occur. Probability
______________ probability is the probability of an Conditional probability
event occurring depends on some other event having
occurred.
_________ probability refers to the probability of an Simple
event occurring when the probability of occurrence does
not depend on the outcome of a prior event
Categorial variable which classifies characteristics by Nominal variables
name; yields "yes" or "no" answers
Categorical variable which facilitates ranking; prior Ordinal variables
expectation is implicit
Numerical variable created by counting (BD/BA count, Discreet variables
etc.)
Numerical variable created as a result of measurement Continuous variables
(Square footage, etc.)
In economics, the _____ is referred to as the expected Mean
value of a variable.
Which measure of central tendency is most apt to be Mean
influenced by extreme values in the data?
Which measure of central tendency can be interpreted Mode
as the most likely result?
Which measure of central tendency is not influenced by Median
an extreme outlier, thus making it typically a very good
indicator of central tendency?
A _________ consists of all of the items being studied. Population
A ______ is selected from the population. Sample
Numerical descriptions (such as the mean) of Parameters; Statistics
populations are called _____________, and numerical
descriptions of samples are called ___________.
Population variance formula
Population standard deviation
Sample variance formula
, Quantitative Analysis - MAI | Complete Exam Review & Practice Questions with Verified Answers
Sample standard deviation formula
Coefficient of variation formula (COV)
Q1 position formula by rounding rule Array the data from smallest to largest, round result from formula up or down
accordingly, using the result as the indication of the location of the quartile
position
Q3 position formula by rounding rule Array the data from smallest to largest, round result from formula up or down
accordingly, using the result as the indication of the location of the quartile
position
Finding quartile values using interpolation
Five number summary Minimum sample value, Q1, median, Q3, maximum sample value
Skewness if mean > median Right skewed (most of the data is to the right of the median in a box and whisker
plot, so mean will be between the median and Q3 in a box and whisker plot)
Skewness if mean < median Left skewed (most of the data is to the left of the median in a box and whisker
plot, so mean will be between the median and Q1 in a box and whisker plot)
A ____________ provides a pictorial representation of Box and whisker plot
how sample data are dispersed.
The likelihood that a specified event will occur. Probability
______________ probability is the probability of an Conditional probability
event occurring depends on some other event having
occurred.
_________ probability refers to the probability of an Simple
event occurring when the probability of occurrence does
not depend on the outcome of a prior event
