Exam Questions and CORRECT Answers
There are two types of statistics (Analytics) - CORRECT ANSWER Descriptive and
Inferential
Descriptive statistics are used to _____? - CORRECT ANSWER Inform/ Explanatory
Inferential statistics are used to _______? - CORRECT ANSWER Predict/ Trend
Name the 4 levels of measurement - CORRECT ANSWER (NOIR) Normal, Ordinal, Interval,
Ratio
Continuous data with unique zero point - CORRECT ANSWER Ratio
Orders datât at equal distance apart - CORRECT ANSWER Interval
Place qualitative objects in some kind of order - CORRECT ANSWER Ordinal
Identify, group, or categorize - CORRECT ANSWER Nominal
Outliers create this type of error - CORRECT ANSWER Out-of-Range
Unpredictable error - CORRECT ANSWER Random error- No correlation
Error may occur from missing data ( Space not filled in) - CORRECT ANSWER Omission
Error- Distorted Results
, The error repeats itself - CORRECT ANSWER Systematic Error- Skewed results
What is the process of quality Control? - CORRECT ANSWER Reduce/ minimize errors
All variable measurements and manipulations are under the researcher's control - CORRECT
ANSWER experimental study
Used when impractical or impossible to control the conditions of the study - CORRECT
ANSWER Observational study
Participants are not told if they arena the treatment group or control group - CORRECT
ANSWER Blind Study
The procedure the researcher applies to each subject - CORRECT ANSWER Treatments
Neither the treatment allocator nor the participants know who is in the treatment group or control
group - CORRECT ANSWER Double blind study
Questions favor an outcome or the interviewer asks questions that favor an outcome -
CORRECT ANSWER Information Bias
The average outcome (payout) when the future includes scenarios that may or may not happen -
CORRECT ANSWER Expected monetary value (EVM) Analysis
Observation favor an outcome or the interviewer ask questions that favor and outcome -
CORRECT ANSWER Outliers Note: Can be included or excluded in the analysis (Cause of
Skewness)
Bias tha occurs from not selection a random sample - CORRECT ANSWER Measurement
bias