Real World Data Driven Decisions Flashcards
One of the most commonly used index numbers throughout all of
business… the main
measure of inflation for a given country
Consumer Price Index
shows the change in price or quantity of a single good or service over time.
simple index number
created when a researcher gathers data from many different sources without weighing any data more significantly than any other data…. ONE good or service being measured so that all of
the information is weighted equally.
simple composite index
researcher applies more weight to certain goods or services than others as they
are calculating the index number
weighted composite index
measures the number of new cases that arise in a population over the course of a designated time
period
incidence
cumulative incidence and incidence rate (amnt time in denominator)
measures the number
of cases that exist in a population at a given point in time, it can be helpful in determining where relief is needed most
Prevalence
measures the number of new cases that arise in a period of time, can be helpful in determining which populations are at the
highest risk of contracting a disease.
cumulative incidence
uses person-time units,
can be used to measure changing levels of risk over a period of time
incidence rate
measure the distance of a piece of data from the mean compared to the entire population
Z-Score (unit of measure is standard deviation)
used in EDUCATION because can put results into context
BELOW mean is NEGATIVE
Data that is Consistent and Repeatable
Reliable
data resulting from a test that accurately measures what it is intended to
measure
Valid Data
errors are not due to chance, and although they can be corrected, correcting them
takes time and attention to detail
Systematic
analytics are used in
____________ to understand past performance
and deliver public services at a lower cost
Government
Cost-Benefit analysis
the cost of achieving the predetermined goal is
analyzed
cost-effective analysis
