SMPA 6242 Midterm End of Lecture
Questions & answers
group the big 5 summary stats - correct answer ✔✔mean, median, and mode
standard deviation and variance
when might the mean be more appropriate than the median & vice versa? - correct answer
✔✔it might be more appropriate to use the median when you have severely skewed
distributions
using the mean can be more appropriate when our distribution is more symmetric
can you provide some intuition as to why we square things when computing the variance? -
correct answer ✔✔because we want to count positive misses and negative misses as equally
bad, and misses further from the mean at an increasing penalty rate
which of the big 5 is most important? - correct answer ✔✔none, it depends on the research
question at hand. they are better understood as part of a dashboard together, instead of
singularly better or worse than another
what is a difference between covariance and correlation? what is a similarity? - correct answer
✔✔covariance and correlation both describe the relatedness of two variables. if covariance tells
us there is a positive relationship, so too will correlation. they have different values, however.
what is the range of values for covariance? what about for correlation? - correct answer
✔✔covariance is not restricted by a range. correlation is bounded by -1 and 1, inclusive.
Questions & answers
group the big 5 summary stats - correct answer ✔✔mean, median, and mode
standard deviation and variance
when might the mean be more appropriate than the median & vice versa? - correct answer
✔✔it might be more appropriate to use the median when you have severely skewed
distributions
using the mean can be more appropriate when our distribution is more symmetric
can you provide some intuition as to why we square things when computing the variance? -
correct answer ✔✔because we want to count positive misses and negative misses as equally
bad, and misses further from the mean at an increasing penalty rate
which of the big 5 is most important? - correct answer ✔✔none, it depends on the research
question at hand. they are better understood as part of a dashboard together, instead of
singularly better or worse than another
what is a difference between covariance and correlation? what is a similarity? - correct answer
✔✔covariance and correlation both describe the relatedness of two variables. if covariance tells
us there is a positive relationship, so too will correlation. they have different values, however.
what is the range of values for covariance? what about for correlation? - correct answer
✔✔covariance is not restricted by a range. correlation is bounded by -1 and 1, inclusive.
