Qmet 251 - Exam 1 Questions With Complete Solutions
Bar Chart Correct Answers a graph that shows qualitative
classes on the horizontal axis and the class frequencies on the
vertical axis; class frequencies proportional to heights of the
bars
Chebyshev's Theorem Correct Answers 1. xbar +/- 2s: at least
75% of dataset will fall within this interval
2. xbar +/- 3s: at least 89%
Class Frequency Correct Answers number of observations in
each class
Class Interval Correct Answers subtracting lower limit of a
class from the lower limit of next class
Class Midpoint Correct Answers point that divides a class into
two equal parts; average of upper and lower class limits
Descriptive Statistics Correct Answers methods of organizing,
summarizing and presenting data in an informative way; visual
and numerical
Empirical Rule Correct Answers for dataset that is symmetric
and mound shape
1. xbar +/- s: 68%
2. xbar +/- 2s: 95%
3. xbar +/- 3s: 99.7%
Four Levels of Measurement Correct Answers 1. Nominal
, 2. Ordinal
3. Interval
4. Ratio
Frequency Distribution Correct Answers grouping of data into
mutually exclusive classes showing the number of observations
in each class
Frequency Polygon (know how to interpret) Correct Answers
shows shape of distribution and is similar to histogram; line
graph
Frequency Table Correct Answers a grouping of qualitative
data into mutually exclusive classes showing the number of
observations in each class
Geometric Mean (GM) Correct Answers useful in finding the
average change of percentages, ratios, indexes & growth rates
over time; always less than or equal to arithmetic mean
1. Finding average rate of return over time:
GM = nsqrt (x_1 * x_2 ... * x_n)--change percents to decimals
and add 1
2. Finding average percent change over time:
GM = nsqrt (ending value/starting value)--n is difference in
years
Histogram (know how to interpret) Correct Answers graph in
which the classes are marked on the horizontal axis and the class
frequencies on the vertical axis; class frequencies represented by
heights of the bars and bars drawn adjacent to each other
Bar Chart Correct Answers a graph that shows qualitative
classes on the horizontal axis and the class frequencies on the
vertical axis; class frequencies proportional to heights of the
bars
Chebyshev's Theorem Correct Answers 1. xbar +/- 2s: at least
75% of dataset will fall within this interval
2. xbar +/- 3s: at least 89%
Class Frequency Correct Answers number of observations in
each class
Class Interval Correct Answers subtracting lower limit of a
class from the lower limit of next class
Class Midpoint Correct Answers point that divides a class into
two equal parts; average of upper and lower class limits
Descriptive Statistics Correct Answers methods of organizing,
summarizing and presenting data in an informative way; visual
and numerical
Empirical Rule Correct Answers for dataset that is symmetric
and mound shape
1. xbar +/- s: 68%
2. xbar +/- 2s: 95%
3. xbar +/- 3s: 99.7%
Four Levels of Measurement Correct Answers 1. Nominal
, 2. Ordinal
3. Interval
4. Ratio
Frequency Distribution Correct Answers grouping of data into
mutually exclusive classes showing the number of observations
in each class
Frequency Polygon (know how to interpret) Correct Answers
shows shape of distribution and is similar to histogram; line
graph
Frequency Table Correct Answers a grouping of qualitative
data into mutually exclusive classes showing the number of
observations in each class
Geometric Mean (GM) Correct Answers useful in finding the
average change of percentages, ratios, indexes & growth rates
over time; always less than or equal to arithmetic mean
1. Finding average rate of return over time:
GM = nsqrt (x_1 * x_2 ... * x_n)--change percents to decimals
and add 1
2. Finding average percent change over time:
GM = nsqrt (ending value/starting value)--n is difference in
years
Histogram (know how to interpret) Correct Answers graph in
which the classes are marked on the horizontal axis and the class
frequencies on the vertical axis; class frequencies represented by
heights of the bars and bars drawn adjacent to each other
