MIS 301 - Exam 1
Descriptive Statistics - correct answer ✔- Tabular, graphical, and numerical
methods used to summarize (or describe) data
- Involves collecting, presenting, and characterizing data
Inferential Statistics - correct answer ✔- Process of using sample data to
draw conclusions or make decisions about the characteristics of the
population
- Two forms:
-Estimation
-Hypothesis testing
Scatter Diagram - correct answer ✔- Graphical representation of the
relationship between two quantitative variables x and y
Covariance - correct answer ✔- measure of the linear association between
two variables
- positive values indicate a positive relationship
- negative values indicate a negative relationship
Correlation Coefficient - correct answer ✔- unit free measure of degree of
linear association between two variables
Chart area - correct answer ✔All area of chart
Plot Area - correct answer ✔region containing the graphical representation of
your data
, Steps to Create a Chart - correct answer ✔- select the data source
- select the chart type
- add and format chart elements
- size and position the chart
column chart - correct answer ✔- displays values in vertical columns where
the height represents the value
- appropriate to compare values across different categories (max 7
categories)
Bar Chart - correct answer ✔- displays values in horizontal bars where the
width represents the value
- similar to column chart, but preferred when category names are long
Line Chart - correct answer ✔- appropriate to show continuous data to depict
trends over time
Pie Chart - correct answer ✔- shows each data point as a proportion to the
whole data series
- represents a single data series only (max 7 slices)
- use it when you want to convey percentage or market share
Scatter Chart - correct answer ✔- good for looking at
relationships/associations between data, regression
Histograms - correct answer ✔- allows you to visually see the frequency of
data in each bin
Descriptive Statistics - correct answer ✔- Tabular, graphical, and numerical
methods used to summarize (or describe) data
- Involves collecting, presenting, and characterizing data
Inferential Statistics - correct answer ✔- Process of using sample data to
draw conclusions or make decisions about the characteristics of the
population
- Two forms:
-Estimation
-Hypothesis testing
Scatter Diagram - correct answer ✔- Graphical representation of the
relationship between two quantitative variables x and y
Covariance - correct answer ✔- measure of the linear association between
two variables
- positive values indicate a positive relationship
- negative values indicate a negative relationship
Correlation Coefficient - correct answer ✔- unit free measure of degree of
linear association between two variables
Chart area - correct answer ✔All area of chart
Plot Area - correct answer ✔region containing the graphical representation of
your data
, Steps to Create a Chart - correct answer ✔- select the data source
- select the chart type
- add and format chart elements
- size and position the chart
column chart - correct answer ✔- displays values in vertical columns where
the height represents the value
- appropriate to compare values across different categories (max 7
categories)
Bar Chart - correct answer ✔- displays values in horizontal bars where the
width represents the value
- similar to column chart, but preferred when category names are long
Line Chart - correct answer ✔- appropriate to show continuous data to depict
trends over time
Pie Chart - correct answer ✔- shows each data point as a proportion to the
whole data series
- represents a single data series only (max 7 slices)
- use it when you want to convey percentage or market share
Scatter Chart - correct answer ✔- good for looking at
relationships/associations between data, regression
Histograms - correct answer ✔- allows you to visually see the frequency of
data in each bin
