MGSC 291 Exam 1 (Walters) QUESTIONS WITH ANSWERS

MGSC 291 Exam 1 (Walters) QUESTIONS |\ |\ |\ |\ |\ |\




WITH ANSWERS |\




Descriptive Statistics - CORRECT ANSWERS ✔✔Collecting,
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summarizing, and presenting data |\ |\ |\




Inferential Statistics - CORRECT ANSWERS ✔✔drawing
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conclusions about a population based on sample data from that
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population


Parameter - CORRECT ANSWERS ✔✔a number used to describe a
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population


Statistic - CORRECT ANSWERS ✔✔a number calculated from a
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sample and is used to estimate the parameter
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Time Series - CORRECT ANSWERS ✔✔variables that are measured
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at regular intervals over time (hourly, daily, weekly, monthly,
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quarterly, annual...) |\




Cross-Sectional Data - CORRECT ANSWERS ✔✔several variables |\ |\ |\ |\ |\ |\ |\


are all measured at the same time point (or time frame)
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Big Data - CORRECT ANSWERS ✔✔Data warehouses that have
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grown enormously in size, with the use of powerful computers,
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, the information contained in them is accessible and used to help
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make decisions |\




Discrete variables - CORRECT ANSWERS ✔✔jumps between
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possible values |\




continuous variable` - CORRECT ANSWERS ✔✔another possible |\ |\ |\ |\ |\ |\ |\


value between any two values |\ |\ |\ |\




Nominal variables - CORRECT ANSWERS ✔✔categorical variables
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for which the categories do not have a natural ordering
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Ordinal Variables - CORRECT ANSWERS ✔✔categorical variables
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for which the categories have a natural ordering
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boxplots - CORRECT ANSWERS ✔✔For quantitative data
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works for small to large datasets
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plots the five number summary
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great for side-by-side comparisons
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R code for boxplots - CORRECT ANSWERS ✔✔boxplot()
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Histogram - CORRECT ANSWERS ✔✔medium to large quantitative|\ |\ |\ |\ |\ |\ |\


datasets
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Bins touch |\ |\