BADM 210 Exam 1 Questions and
Answers
Observation - ANSWER-row, record, transaction, variables that make each row
unique
Variable - ANSWER-A factor that can change in an experiment
Variation - ANSWER-variable may change from one observation to another
Population - ANSWER-total set of observations that can be made
Sample - ANSWER-a subset of the population usually taken to estimate
characteristics of the population
Quantitative Data - ANSWER-Number Data
Categorial Data - ANSWER-Data that can be put into categories (like what color you
prefer, your gender, or the state you were born in), as opposed to numerical data
that can be placed on a number line.
Cross-Sectional - ANSWER-Cross-sectional data are observations that come from
different individuals or groups at a single point in time.
Time Series - ANSWER-multiple cross-sectionals across time
frequency distribution - ANSWER-Count of Frequency of Occurrence
Percentage of Category as a Proportion of Total
Histograms - ANSWER-bar graphs
Bin Width = (Maximum Value - Minimum Value) / Number of Bins
Cumulative Frequency Distribution - ANSWER-the frequency for each class is the
sum of the frequencies for that class and all previous classes
Mean - ANSWER-average
Median - ANSWER-sort data from low to high: middle number
if even: mean of two middle numbers
Mode - ANSWER-is the value of the variable that occurs most often in the data
Geometric Mean (study formula) - ANSWER-the mean of n numbers expressed as
the n-th root of their product
, should be applied any time you want to determine the mean rate of change over
several successive periods
Range - ANSWER-Distance between min and max variables
Variance (Study Formula) - ANSWER-the sum of the squared deviations divided by
one less than the sample size
tells us how much the different observations deviate from the average
Units = s squared
Standard Deviation (study formula) - ANSWER-the Square Root of the Variance
Units are the same as the variable units and the units of the mean, median, or mode
Coefficient of Variation (study formula) - ANSWER-A measure of relative variability
computed by dividing the standard deviation by the mean and multiplying by 100.
Percentile (study formula) - ANSWER-The value of a variable at which a specified
(approximate) percentage of observations are below that value.
The pth percentile tells us the point in the data where approximately p% of the
observations have values less than the pth percentile; hence, approximately (100 −
p)% of the observations have values greater than the pth percentile.
PERCENTRANK.EXC - ANSWER-Returns the rank of a value in a data set as a
percentage
PERCENTILE.EXC - ANSWER-Returns the k-th percentile of values in a range,
where k is in the range 0..1, exclusive.
Quartile - ANSWER-A division of the total into four intervals, each one representing
one-fourth of the total.
decile - ANSWER-The tenth equal part of a distribution
Inner Quartile Range - ANSWER-Q3-Q1
Z-Score (Study Formula) - ANSWER-standardizes the measure of distance from the
mean to be standard across any sample (Study Formula)
applies to each observation in the dataset
Normal Distrbutions - ANSWER-Bell curve
Outliers - ANSWER-Did we measure correctly?
Data Entry / Typos?
Improper Unit of Measure?
Is this a valid, but rare observation?
Box Plot - ANSWER-Q1 and Q3 for the outside of the box
Median (Q2) for the middle of the box
Whiskers to span all observations that are within 1.5*IQR of the mean (depends on
your sample)
Answers
Observation - ANSWER-row, record, transaction, variables that make each row
unique
Variable - ANSWER-A factor that can change in an experiment
Variation - ANSWER-variable may change from one observation to another
Population - ANSWER-total set of observations that can be made
Sample - ANSWER-a subset of the population usually taken to estimate
characteristics of the population
Quantitative Data - ANSWER-Number Data
Categorial Data - ANSWER-Data that can be put into categories (like what color you
prefer, your gender, or the state you were born in), as opposed to numerical data
that can be placed on a number line.
Cross-Sectional - ANSWER-Cross-sectional data are observations that come from
different individuals or groups at a single point in time.
Time Series - ANSWER-multiple cross-sectionals across time
frequency distribution - ANSWER-Count of Frequency of Occurrence
Percentage of Category as a Proportion of Total
Histograms - ANSWER-bar graphs
Bin Width = (Maximum Value - Minimum Value) / Number of Bins
Cumulative Frequency Distribution - ANSWER-the frequency for each class is the
sum of the frequencies for that class and all previous classes
Mean - ANSWER-average
Median - ANSWER-sort data from low to high: middle number
if even: mean of two middle numbers
Mode - ANSWER-is the value of the variable that occurs most often in the data
Geometric Mean (study formula) - ANSWER-the mean of n numbers expressed as
the n-th root of their product
, should be applied any time you want to determine the mean rate of change over
several successive periods
Range - ANSWER-Distance between min and max variables
Variance (Study Formula) - ANSWER-the sum of the squared deviations divided by
one less than the sample size
tells us how much the different observations deviate from the average
Units = s squared
Standard Deviation (study formula) - ANSWER-the Square Root of the Variance
Units are the same as the variable units and the units of the mean, median, or mode
Coefficient of Variation (study formula) - ANSWER-A measure of relative variability
computed by dividing the standard deviation by the mean and multiplying by 100.
Percentile (study formula) - ANSWER-The value of a variable at which a specified
(approximate) percentage of observations are below that value.
The pth percentile tells us the point in the data where approximately p% of the
observations have values less than the pth percentile; hence, approximately (100 −
p)% of the observations have values greater than the pth percentile.
PERCENTRANK.EXC - ANSWER-Returns the rank of a value in a data set as a
percentage
PERCENTILE.EXC - ANSWER-Returns the k-th percentile of values in a range,
where k is in the range 0..1, exclusive.
Quartile - ANSWER-A division of the total into four intervals, each one representing
one-fourth of the total.
decile - ANSWER-The tenth equal part of a distribution
Inner Quartile Range - ANSWER-Q3-Q1
Z-Score (Study Formula) - ANSWER-standardizes the measure of distance from the
mean to be standard across any sample (Study Formula)
applies to each observation in the dataset
Normal Distrbutions - ANSWER-Bell curve
Outliers - ANSWER-Did we measure correctly?
Data Entry / Typos?
Improper Unit of Measure?
Is this a valid, but rare observation?
Box Plot - ANSWER-Q1 and Q3 for the outside of the box
Median (Q2) for the middle of the box
Whiskers to span all observations that are within 1.5*IQR of the mean (depends on
your sample)
