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BUS 250 - Exam 1
| Question | Answer |
|---|---|
| Data | The compilations of facts, figures, or other contents, both numerical and nonnumerical |
| Statistics | The science that deals with the collection, preparation, analysis, presentation, and interpretation of data. |
| Information | The result of applying context to the data and statistics |
| Steps for analysis | Find the right data, Analyze the data, Report the results |
| Data Privacy – Key Principles | Confidentiality, Transparency, Accountability |
| Data Ethics – Key Principles | Human first, no baises |
| Types of Data | Structured data, unstructured data, big data, |
| Variables | a characteristic of interest that differs in kind or degree among various observations (records) |
| Scales of Measurement | Nominal, Ordinal, Interval, Ratio |
| Nominal | represent categories or groups, values differ by label or name, only able to group observations, ex. marital status |
| Ordinal | Categorize and rank data with respect to some characteristic, Cannot interpret the difference between the ranked values, numbers are arbitrary, Example: reviews from 1 star (poor) to 5 starts (outstanding). |
| Interval | Categorize and rank, differences are meaningful, Zero value is arbitrary and does not reflect absence of characteristic, Example: temperature. |
| Ratio | A true zero point, reflects absence of characteristic, Comparison of ratios are meaningful, Example: profits |
| Categories of data | Structured, unstructured, semi-structured |
| Structured data types | Categorical, Numericale |
| Categorical data | Nominal, ordinal |
| Numerical data | Interval, ratio |
| Data prep | Counting and sorting, handling missing values, subsetting |
| Frequency | Count the number of observations that fall into each category |
| Relative Frequency | The proportion of observations in each category (Frequency / Sample Size) |
| Percent Frequency | Multiply the Relative Frequency by 100 to get percentages |
| Bar chart | depicts the frequency or relative frequency for each category of the categorial variable |
| Pie Chart | A segmented circle whose segments portray the relative frequencies of the categories of a qualitative variable |
| The total number of intervals in a frequency distribution usually ranges from ____ | 5 to 20 |
| Cumulative Frequency | Count the number of observations that are below the upper limit of the interval |
| Cumulative Relative Frequency | The proportion of observations that are below the upper limit of the interval (Cumulative Frequency / Sample Size) |
| Cumulative Percent Frequency | Multiply the Cumulative Relative Frequency by 100 to get percentages |
| Contingency Table | - Frequencies for two categorical variables. • Each cell represents a mutually exclusive combination of the pair of values |
| Cluster or Stack Column Chart | Visualize more than one categorical variable |
| Scatterplot | is used to determine whether or not two numerical variables are related in some systematic way |
| Line Chart | displays a numerical variable as a series of data points connected by a line |
| Bubble Plot | Relationship between three numerical variables |
| Heat Map | Uses color or color intensity to display relationships between variables. ex. best and worst selling products |
| Mode | The value that occurs most often. |
| Weighted Mean | is relevant when some observations contribute more than others |
| Range | Difference between the minimum and maximum values in the data set |
| Variance | The average of the squared deviations from the mean for each observation |
Created by:
user-1987785