Chapter 2

Question 1

The facts and figures collected, analyzed, and summarized for presentation and interpretation is known as

Answer 1

Data

Question 2

A characteristic or a quantity of interest that can take on different values is known as

Answer 2

Variable

Question 3

A set of values corresponding to a set of variables is known as

Answer 3

Observation

Question 4

The difference in a variable measured over observations is known as

Answer 4

Variation

Question 5

A quantity whose values are not
known with certainty is known as

Answer 5

Random variable/uncertain variable

Question 6

What are the 7 types of data?

Answer 6

Population
Sample
Random Sampling
Quantitative Data
Categorical Data
Cross-sectional data
Time series data

Question 7

What type of data is described as all elements of interest

Answer 7

Population

Question 8

What type of data is described as a subset of the population

Answer 8

Sample

Question 9

A sampling method to gather a
representative sample of the population data is known as

Answer 9

Random Sampling

Question 10

What type of data is known as data on which numeric and
arithmetic operations, such as addition, subtraction,
multiplication, and division, can be performed

Answer 10

Quantitative Data

Question 11

What type of data is known as Data on which arithmetic operations cannot be performed

Answer 11

Categorical Data

Question 12

What type of data is known as data collected from several
entities at the same, or approximately the same, point
in time.

Answer 12

Cross-sectional data

Question 13

What type of data is known as data collected over several time periods
-Graphs help analysts understand what happened in
the past, identify trends over time, and project
future levels for the time series.

Answer 13

Time Series Data

Question 14

What kind of study requires a variable of interest to first be identified.
* Then one or more other variables are identified and
controlled or manipulated so that data can be obtained about how they influence the variable of interest

Answer 14

Experimental Study

Question 15

What kind of study makes no attempt to control the variables of interest.
* A survey is perhaps the most common type of this study.

Answer 15

Nonexperimental Study

Question 16

What are two examples of modifying data in excel?

Answer 16

Sorting and filtering data
Conditional Formatting Data

Question 17

Step by step on how to sort data

Answer 17

To sort the automobiles by February 2018 sales:
* Step 1: Select cells A1:F21.
* Step 2: Click the Data tab in the Ribbon.
* Step 3: Click Sort in the Sort & Filter group.
* Step 4: Select the check box for My data has headers.
* Step 5: In the first Sort by dropdown menu, select Sales
(February 2018).
* Step 6: In the Order dropdown menu, select Largest to
Smallest.
* Step 7: Click OK

Question 18

Step by step on how to filter data

Answer 18

Sorting and Filtering Data in Excel (cont.):
* Using Excel’s Filter function to see the sales of models made
by Nissan:
* Step 1: Select cells A1:F21.
* Step 2: Click the Data tab in the Ribbon.
* Step 3: Click Filter in the Sort & Filter group.
* Step 4: Click on the Filter Arrow in column B, next to
Manufacturer.
* Step 5: If all choices are checked, you can easily deselect all choices by unchecking (Select All). Then select only the
check box for Nissan.
* Step 6. Click OK

Question 19

Step by step of how to use the conditional formatting of data

Answer 19

Makes it easy to identify data that satisfy certain conditions in a data set.
* To identify the automobile models in Table 2.2 for which sales had decreased from February 2018 to February 2019:
* Step 1: Starting with the original data shown in Figure 2.3, select
cells F1:F21.
* Step 2: Click on the Home tab in the Ribbon.
* Step 3: Click Conditional Formatting in the Styles group.
* Step 4: Select Highlight Cells Rules, and click Less Than… from the
dropdown menu.
* Step 5: Enter 0% in the Format cells that are LESS THAN: box.
* Step 6: Click OK

Question 20

What are 5 ways to create distributions from data?

Answer 20

• Frequency Distributions for Categorical Data
• Relative Frequency and Percent Frequency
  Distributions
• Frequency Distributions for Quantitative Data
• Histograms
• Cumulative Distributions

Question 21

A summary of data that shows the number (frequency) of observations in each of several nonoverlapping classes.
* Typically referred to as bins, when dealing with distributions
This is known as?

Answer 21

Frequency distriubtion

Question 22

A tabular summary of data showing the relative frequency for each bin is known as

Answer 22

Relative frequency distribution

Question 23

What distribution data summarizes the percent frequency of the
data for each bin.

Answer 23

Percent Frequency distribution

Question 24

What are the 2 approaches to get a Frequency Distribution in Excel

Answer 24

1) Frequency Array Function for Quantitative Data
2) Histogram tool in Data analysis (preferrred)

Question 25

Step by step how to use frequency array function for quantitative data

Answer 25

Step 1 : Select the cells where you want the frequencies displayed. Step 2 : Type the following formula (DO NOT HIT ENTER): =FREQUENCY( data range : upper limit range ) Step 3 : Press CTRL+SHIFT+ENTER and the array formula will be entered in each cell you selected in step 1

Question 26

Lack of symmetry is known as

Answer 26

Skewness

Question 27

T/F- Skewness is an important characteristic of the shape of a distribution

Answer 27

True

Question 28

What type of distribution data set provides information about the shape of a distribution

Answer 28

Histogram

Question 29

What are the 3 measures of location

Answer 29

Mean Median Mode

Question 30

What are the 5 measures of variability

Answer 30

Range Interquartile Range Variance Standard Deviation Coefficient of variation

Question 31

A measure of variability that utilizes all the data

Answer 31

Variance

Question 32

The square root of the variance is known as

Answer 32

Standard deviation

Question 33

What is a descriptive statistic that indicates how large the standard deviation is relative to the mean. * Expressed as a percentage.

Answer 33

Coefficient of Variation

Question 34

What are the 6 analyzing distributions examples

Answer 34

Percentiles Quartiles Z-scores Empirical Rule Identifying Outliers Box Plots

Question 35

The value of a variable at which a specified (approximate) percentage of observations are below that value is known as

Answer 35

Percentile

Question 36

When the data is divided into four equal parts: * Each part contains approximately 25% of the observations. * Division points are referred to as quartiles This is known as

Answer 36

Quartiles

Question 37

The difference between the third and first quartiles is often referred to as

Answer 37

Interquartile range

Question 38

What do you click to use absolute reference

Answer 38

F4

Question 39

Excel function for mean

Answer 39

=average(range)

Question 40

Excel function for median

Answer 40

=median(range)