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AICP

AICP Analysis of Information

QuestionAnswer
Constant An unchanging value. The most recognized constant is the value for pi: 3.14
Variable A quantity or function that may assume any given value or set of values. Types: Qualitative, Quantitative, Continuous, Dichotomous, & Discreet.
Qualitative A descriptive term used when the above variable types fall on either the nominal or ordinal scale
Quantitative A descriptive term used when the above variable types fall on either the interval or ratio scale
Continuous A variable where the value can change to another at any time
Dichotomous A variable where the value is fixed or static
Discrete A variable where the values are drawn from a finite set
Nominal Scale The assignment of numbers of symbols for the purpose of designating subclasses that represent unique characteristics like identifying (SSN, TIN)
Ordinal Scale the assignment of numbers or symbols for the purpose of identifying ordered relationships of a particular characteristic without specified intervals
Interval Scale The assignment of numbers for the purpose of identifying ordered relationships of a particular characteristic with the ability to determine differences in amounts.
Ratio Scale The assignment of numbers for the purpose of identifying ordered relations of some characteristic, with the ability to determine differences and an absolute zero point. Length, Area, Volume
Frequency Distribution To understand raw data. Values places in some logical order (lowest to highest)
Measures of Central Tendencies Commonly known as "Averages" Multiple ways to compute average: Mean, Median, Midrange, Mode
Mean A mean is the average of a data set, found by adding all numbers together and then dividing the sum of the numbers by the number of numbers.
Median Midpoint . the number that is in the middle, with the same amount of numbers below and above. If there is an even amount of numbers in the list, the middle pair must be determined, added together, and divided by two to find the median value.
Mode The most frequent entry in the distribution. If a distribution has more than one mode, that distribution is said to be bi-modal
Measure of dispersion (Variance) Show how data flows outward from the center of the distribution. commonly used measures of dispersion: range, variance, standard deviation, mean deviation, and quartile deviation
Range The difference between the highest and lowest value in the data set. The larger the number, the greater the range and thus the greater the dispersion.
Standard Deviation Measure of how much the data in a certain collection are scattered around the mean. A low standard deviation means that the data are tightly clustered; a high standard deviation means that they are widely scattered.
Variance Is the square of the standard deviation
Normal Distribution Distribution where the values for the mean and median are equal. This is commonly called a bell curve, and is symmetrical when charted
Created by: arceliredila
 

 



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