Exam #1- Business Analytics with 100%
Correct Answers
statistics - Answer-both the science of uncertainty and the technology of extracting
information from data
statistics - Answer-involves collecting, organizing, analyzing, interpreting, and
presenting data
a statistic - Answer-a summary measure of data is?
descriptive statistics - Answer-refers to methods of describing and summarizing data
using tabular, visual, and quantitative techniques
metric - Answer-a unit of measurement that provides a way to objectively quantify
performance
measurement - Answer-the act of obtaining data associated with a metric
measures - Answer-numerical values associated with a metric
discrete metric - Answer-Metric that is derived from counting something
continuous metrics - Answer-based on a continuous scale of measurement
continuous metrics examples - Answer-any metrics involving dollars, length, time,
volume, or weight
categorical (nominal) data - Answer-sorted into categories according to specified
characteristics
ordinal data - Answer-can be ordered or ranked according to some relationship to one
another
interval data - Answer-ordinal but have constant differences between observations and
have arbitrary zero points
ratio data - Answer-continuous and have a natural zero
frequency distribution - Answer-a table that shows the number of observations in each
of several nonoverlapping groups
, histogram - Answer-a graphical depiction of a frequency distribution for numerical data
in the form of a column chart
categorical variables - Answer-what naturally defines the groups in a frequency
distribution?
COUNTIF - Answer-what excel function should we use in frequency distributions
relative frequency - Answer-the fraction, or proportion, of the total
relative frequency distribution - Answer-a tabular summary of the relative frequencies of
all categories
analysis toolpak on the data tab - Answer-what do we use in excel to create frequency
distributions and histograms
cumulative relative frequency - Answer-represents the proportion of the total number of
observations that fall at or below the upper limit of each group
cumulative relative frequency distribution - Answer-a tabular summary of a cumulative
relative frequencies is a?
kth percentile - Answer-a value at or below which at least k percent of the observations
lie.
quartiles - Answer-break the data into 4 parts
cross-tabulation - Answer-A tabular method that displays the number of observations in
a data set for different subcategories of two categorical variables.
contingency table - Answer-a cross-tabulation table is often called a?
population - Answer-all items of interest for a particular decision or investigation
sample - Answer-a subset of the population
the purpose of sampling - Answer-obtain sufficient information to draw a valid inference
about a population
median - Answer-specifies the middle value when the data are arranged from least to
greatest
mode - Answer-the observation that occurs most frequently
mode - Answer-the ________ is most useful for data sets that contain a relatively small
number of unique values
Correct Answers
statistics - Answer-both the science of uncertainty and the technology of extracting
information from data
statistics - Answer-involves collecting, organizing, analyzing, interpreting, and
presenting data
a statistic - Answer-a summary measure of data is?
descriptive statistics - Answer-refers to methods of describing and summarizing data
using tabular, visual, and quantitative techniques
metric - Answer-a unit of measurement that provides a way to objectively quantify
performance
measurement - Answer-the act of obtaining data associated with a metric
measures - Answer-numerical values associated with a metric
discrete metric - Answer-Metric that is derived from counting something
continuous metrics - Answer-based on a continuous scale of measurement
continuous metrics examples - Answer-any metrics involving dollars, length, time,
volume, or weight
categorical (nominal) data - Answer-sorted into categories according to specified
characteristics
ordinal data - Answer-can be ordered or ranked according to some relationship to one
another
interval data - Answer-ordinal but have constant differences between observations and
have arbitrary zero points
ratio data - Answer-continuous and have a natural zero
frequency distribution - Answer-a table that shows the number of observations in each
of several nonoverlapping groups
, histogram - Answer-a graphical depiction of a frequency distribution for numerical data
in the form of a column chart
categorical variables - Answer-what naturally defines the groups in a frequency
distribution?
COUNTIF - Answer-what excel function should we use in frequency distributions
relative frequency - Answer-the fraction, or proportion, of the total
relative frequency distribution - Answer-a tabular summary of the relative frequencies of
all categories
analysis toolpak on the data tab - Answer-what do we use in excel to create frequency
distributions and histograms
cumulative relative frequency - Answer-represents the proportion of the total number of
observations that fall at or below the upper limit of each group
cumulative relative frequency distribution - Answer-a tabular summary of a cumulative
relative frequencies is a?
kth percentile - Answer-a value at or below which at least k percent of the observations
lie.
quartiles - Answer-break the data into 4 parts
cross-tabulation - Answer-A tabular method that displays the number of observations in
a data set for different subcategories of two categorical variables.
contingency table - Answer-a cross-tabulation table is often called a?
population - Answer-all items of interest for a particular decision or investigation
sample - Answer-a subset of the population
the purpose of sampling - Answer-obtain sufficient information to draw a valid inference
about a population
median - Answer-specifies the middle value when the data are arranged from least to
greatest
mode - Answer-the observation that occurs most frequently
mode - Answer-the ________ is most useful for data sets that contain a relatively small
number of unique values
