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C207 > C207 > Flashcards

C207 Flashcards

1
Q

There are two types of statistics (Analytics) -

A

Descriptive and Inferential

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2
Q

Descriptive statistics are used to ______ -

A

Inform / Explanatory

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3
Q

Inferential statistics are used to ______ -

A

Predict / Trend

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4
Q

Name the 4 levels of measurement -

A

(NOIR) Nominal, Ordinal, Interval Ratio

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5
Q

Continuous data with unique zero point -

A

Ratio

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6
Q

Orders data at equal distance apart -

A

Interval

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7
Q

Place qualitative objects in some kind of order -

A

Ordinal

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8
Q

Identify, Group, or Categorize -

A

Nominal

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9
Q

Outliers create this type of error -

A

Out-of Range

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10
Q

Unpredictable error -

A

Random Error - No correlation

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11
Q

Error may occur from missing data.
(Example: Space not filled in) -

A

Omission Error - Distorted results

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12
Q

This error repeats itself -

A

Systematic Error - Skewed results

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13
Q

What is the process of quality control? -

A

Reduce/ minimize errors

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14
Q

All variable measurements and manipulations are under the researcher’s control -

A

Experimental study

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15
Q

Used when impractical or impossible to control the conditions of the study -

A

Observational study

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16
Q

Participants are not told if they are in the treatment group or control group -

A

Blind Study

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17
Q

The procedure the researcher applies to each subject -

A

Treatments

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18
Q

The treatment allocator or the participants don’t know who is in the treatment group or control group -

A

Double blind study

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19
Q

Questions favor and outcome or the interviewer ask questions that favor an outcome. -

A

Information Bias

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20
Q

The average outcome (payoff) when the future includes scenarios that may or may not happen -

A

Expected Monetary Value (EMV) Analysis

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21
Q

Observation points that are distant form other observations. -

A

Outliers

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22
Q

Bias that occurs from not selecting a random sample -

A

Measurement bias

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23
Q

Bias introduced because respondents believe it will be beneficial if selected. -

A

Conscious bias

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24
Q

Middle score for a set of data -

A

Median

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25
Q

Tells us the number of standard deviations a data point is from the mean. -

A

Z-score

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26
Q

If the average is the same for two groups, what will determine their difference? -

A

Variance (Standard Deviation)

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27
Q

The spread of data in a sample. How far the data points are from the mean. -

A

Standard deviation

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28
Q

Measure of central tendency that is influenced by the size of the values in a dataset. -

A

Mean

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29
Q

Each of the four quartile groups a population can be divided -

A

Quartiles

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30
Q

Measures the difference between the third and first quartile -

A

IQR: Inter-quartile range

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31
Q

Used to study the composition of a data set and examine the distribution
There are six toll booths to enter the highway. What probability does each tool boot worker have of getting the next customer?. -

A

Box Plot
1 customer and 6 booths = 1/6 or 16.7%

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32
Q

The order you pick you sample in does not matter -

A

Combination

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33
Q

When given P(A) given P(B), you can use this to find the P(B) given P(A) -

A

Bayes Theorem

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34
Q

Apply this rule when looking for two events occurring (AND) -

A

Multiplication

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35
Q

Use this rule when looking for one or the other event happening. (OR) -

A

Addition

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36
Q

A technique for minimize total cost or maximize profit based on constraints -

A

Linear programming

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37
Q

A technique using a single independent variable to predict a single dependent variable -

A

Linear regression

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38
Q

A technique using more than one independent variable to predict a single dependent variable -

A

Multiple regression

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39
Q

Measures the strength of a linear relationship -

A

Correlation coefficient

40
Q

Measures the goodness of fit in a regression analysis -

A

R squared

41
Q

A simple regression using time as the independent variable -

A

Time series

42
Q

A general slope upward or downward over a period of time -

A

Trend

43
Q

Unforeseen circumstances causing random deviations. -

A

Irregularity

44
Q

Repetition in up and down patters -

A

Cyclicality

45
Q

Regular pattern within a single year -

A

Seasonality

46
Q

Negative Scatterplot Correlation (direction) -

A

Left to Right (going down)

47
Q

Positive Scatterplot Correlation (direction) -

A

Right to Left (going up)

48
Q

Strong Scatterplot Correlation -

A

Dots are close together

49
Q

Weak Scatterplot Correlation -

A

Dots are spread apart

50
Q

Represents the probability that a variable falls with a certain range -

A

Cumulative distribution

51
Q

A list of all the different probabilities of each outcome that can occur -

A

Probability Distribution

52
Q

Z-score for 99% level of confidence -

A

2.576

53
Q

Z-score for 95% level of confidence -

A

1.960

54
Q

Measures of central tendency are approximately equal (Mean and Median) -

A

Normal Distribution

55
Q

Used to compare the mean of three or more groups -

A

ANOVA

56
Q

ANOVA uses this test statistics -

A

F-Value (must be higher than critical value to reject the null)

57
Q

T-test uses this statistic -

A

T-Value (must be higher than the critical value to reject the null)

58
Q

A correlation is weak if the coefficient is close to -

A

Zero

59
Q

A correlation is strong if the coefficient is close to -

A

1 or -1

60
Q

Illustrates performance measurements over a period of time -

A

Run Chart

61
Q

Illustrates limits or contraints a process should not exceed -

A

Control Chart

62
Q

Assistsin brainstorming issues that are causing a problem -

A

Cause and Effect Diagram

63
Q

Visual tool to understand a process -

A

Flowchart

64
Q

Easy tool to collect data to create other charts -

A

Check Sheet

65
Q

Graphical display of a data set with one bar for each category -

A

Histogram and Pareto

66
Q

Graphical display of data set centered -

A

Histogram

67
Q

Graphical display of data set in highest to lowest order -

A

Pareto

68
Q

Used for potential relationships and correlation between variables -

A

Scatter diagram

69
Q

Can the seven tools be used independently -

A

Yes

70
Q

What percent of quality problems does Ishikawa claim the seven tools can solve? -

A

90% to 95%

71
Q

Diagram demonstrating all of the elements that can influence a process before it starts -

A

SIPOC (Supplier - Input - Process - Output - Customer)

72
Q

Manufacturing approach to improving processes -

A

Six Sigma

73
Q

In manufacturing, statistics is used for -

A

Quality Control

74
Q

Plan - Do - Study - Act
Which Step is a response to analytical results?

A

Act

75
Q

Shows whetehr a result meets a requirement or not -

A

Attribute

76
Q

Shows how well a result meets the requirement -

A

Variable

77
Q

Variations accepted as the normal part of the process -

A

Common cause variation

78
Q

Variation from an abnormality causing large discrepeancy in results -

A

Special cause variation

79
Q

Model of desiging, analyzing, and scoring tests -

A

IRT: Item Response Theory

80
Q

How does the goverment differ than private sector cost-benefit analysis -

A

Government benefits aren’t always money (ex: could be flood prevention or welfare)

81
Q

Compares on individual’s performance to other individuals -

A

Norm Referenced

82
Q

Compare individual’s performance to a standart score (Ex: Cut Score) -

A

Criterion referenced

83
Q

used to analyze if funding is worth the outcome of a project -

A

Cost-benefit analysis

84
Q

What is big data -

A

Very large data sets

85
Q

used to count ALL of the existing cases in a disease -

A

Prevalence

86
Q

Used to count only the New cases of a disease -

A

Incedence (incident rate)

87
Q

Managment strategy that uses results as the central measurement of performance -

A

RBM: Results Based Managment

88
Q

Performance measure for one specific goal -

A

KPI - Key performance indicator

89
Q

Multiple KPIs are diplayed for the big picture -

A

KPI dashboard

90
Q

What does a balanced scorecard measure -

A

CLIF - (customer, learning, internal process, financial performance) Are we meeing the strategy

91
Q

Advantage or Disadvantage of a balanced score card: Requires time and effort to establish a meaningful scorescard -

A

Disadvantage

92
Q

Advantage or Disadvantage of balanced score card: Improves Internal and External Communication -

A

Advanatage

93
Q

Advantage or Disadvantage of Balanced Scorecard: Difficult to maintain momentum -

A

Disadvantage

94
Q

Advantage or Disadvantage of Balanced Scorescard: Improves organizational alignment -

A

Advantage

95
Q

Advantage or Disadvantage of Balanced Scorecard: Links strategy to organizational results -

A

Advantage

96
Q

Advantage or Disadvantage of KPI: Data driven results make it easier to quantify performance -

A

Advantage

97
Q

Advantage or Disadvantage of KPI: Difficult to change once set up -

A

Disadvantage

C207 (3 decks)

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