Definitions

Question 1

Mean

Answer 1

the simple arithmetic average of a series of numbers. If using a frequency distribution, it can be estin1ated as the weighted average of the midpoints of the classes weighted by their frequency

Question 2

Median

Answer 2

the value of a distribution which divides it into two equal parts

Question 3

Mode

Answer 3

the value of a distribution which has the highest frequency

Question 4

Range

Answer 4

difference between the highest and the lowest score. It is extremely unstable and determined by only two values in the sample.

Question 5

Variance

Answer 5

a measure of dispersion around the mean calculated as the average of the sum of the squared deviations from the mean.

Question 6

Standard deviation

Answer 6

the square root of the variance

Question 7

Normal distribution

Answer 7

a probability distribution that is symmetrical around the mean, bell shaped, and with a standardized relationship between the mean and variance called a score. When sampling, the sample mean will be normally distributed with a mean equal to the population mean and a standard deviation equal to the standard deviation of the population divided by the square root of the sample size

Question 8

Confidence interval

Answer 8

a range of values that includes a certain population parameter (e.g., the mean) with a given probability

Question 9

Test of hypothesis

Answer 9

probability test that relates a sample based estimate to a population related hypothesis, and allows for either acceptance or rejection of this hypothesis.

Question 10

Statistical Process Control

Answer 10

A collection of problem solving tools useful in achieving process stability and improving capability through the reduction in variability. CIP is a Capital Improvement Program, which is normally a list of ranked projects with descriptions, costs, projected delivery dates and potential funding sources.

Question 11

Regression analysis

Answer 11

statistical technique which provides an estimate of one
variable based on a linear function of another. The coefficient of determination or varies between 0 and I and indicates the percentage of the variance in the dependent variable explained by the independent variable.

Question 12

Capital vs. operating budget

Answer 12

the operating budget entails the everyday expenditures for salaries, supplies and maintenance. Capital budgets (often referred to as CIP) generally reflect one-time major project expenditures to be used over a long period of time.

Question 13

Planning Programming, Budgeting System (PPBS

Answer 13

a technique that organizes the budget so that it relates to a goal or an activity.

Question 14

Zero Base Budgeting

Answer 14

starts from “scratch” every year. All programs have to justify their existence through analyses called decision packages.

Question 15

Linear programming

Answer 15

a mathematical technique used to find the optimum design solution for a project.

Question 16

PERT (Program Evaluation and Review Technique

Answer 16

Scheduling technique
that graphically (chart) depicts the interrelationships of the tasks that constitute the project. PERT is designed to aid in planning and controlling both cost and time by
(1) focusing management's attention on key aspects of program development, (2) identifying potential problems that may hinder achievement of program goals, (3) facilitating evaluation of programming. (4) providing management with a prompt mechanical reporting device, and (5) improving the quality of management decision making.

Question 17

Critical path programming

Answer 17

is used to determine which particular steps in a
project will be most “critical” to keeping the project going, e.g. it frequently is used to manage the scheduling of construction projects. Also defined as that path on the network diagram, from the beginning to the end of the project, which will require the longest time to complete. What will cause you delays?

Question 18

Fiscal impact analysis

Answer 18

determines whether a particular project or scale of development within a community will generate sufficient revenues to defray the necessary public service costs. Used to evaluate overall financial implications to local governments of alternative patterns and densities of land development

Question 19

Cost revenue analysis

Answer 19

focuses exclusively on the costs and revenues
associated with a specific form of growth. The result of such an analysis is a statement of net governmental surplus or deficit expressed in purely financial terms.

Question 20

Present value

Answer 20

needed when benefits/costs are not consistent overtime. Money has a time value (discount rate). What you could do with the money (opportunity cost). The amount of money that you need now to have x number of dollars in the future is dependent on the interest rate you use. The different choices that are available for investments are called opportunity costs.

Question 21

Cost benefit analysis

Answer 21

compares both the tangible and intangible
(externalities) costs and revenues of a particular project or program compares what a community gains from the project benefits to what the community must forego in order to achieve it. Any project with a ratio higher than I provides more benefits than costs.

Question 22

Economic base analysis

Answer 22

the study of cities and regions which focuses on
basic service (export) ratios, the ratio of employment in basic activities to employment in non-basic activities which utilizes economic multipliers. Basic industries are defined as local or regional industries with an industry employment
/ total employment ratio higher than the national ratio for
the industry. Non basic industries have a lower industry employment total employment ratio than the nation. Varies with size of community larger the community, the larger the multiplier (more places to spend money). Service economies can export knowledge/service. Example: If there is one export job which creates three total jobs in the community, then a multiplier of three says for every export job, three jobs are created. This would be an economic base multiplier of 1:3. Helps to show areas of specialization.

Question 23

Shift share

Answer 23

a given region may change at a rate (faster or slower) than the
national average if (1) the region has a mix of industries strongly weighted toward growth; or (2) the region’s internal supply advantages have (declined or improved) in relationship to those offered in other regions, thus making it (less or more) competitive as an industrial location. How does the shift in our share of a particular industry reflect on our local economy’?

Question 24

Location quotient

Answer 24

a technique for comparing a region’s percentage share of a
particular activity or industry with its percentage share of the local versus National market. Describes how the local economy compares to national economy

Question 25

Input Output

Answer 25

modeling a technique developed to monitor the real pattern of money flows. It recognizes the fact that an increase in production in one industry is going to result in increases in other industries due to the linked nature of all productive activities. A predictive tool to determine how changes in particular sectors of the economy will be felt throughout the entire economy

Question 26

Equivalent Uniform Annual Cost

Answer 26

A particularly useful financial analysis tool which allows alternatives with different lines and different costs throughout those lines to be compared fairly. The method converts the variable costs incurred to a uniform series of annual cash flows.

Question 27

Discrete data

Answer 27

each item is a separate, whole unit, with no fractional values possible. For example, a building has 10 rooms.

Question 28

Nominal data

Answer 28

data collected and grouped by arbitrary names, numbers or symbols. For example, on a survey you may give a "yes" answer I, and a "no" answer, 0.

Question 29

Continuous data

Answer 29

data points taken along a scale that, at least theoretically, could be subdivided. For example, you may have a range of answers on a survey from very strongly agree to very strongly disagree that you give scores of 1 5. You could derive a mean of say 2 1/2 that would subdivide the data.

Question 30

Ordinal/ranking scale:

Answer 30

named categories are organized in terms of some relationship they have to each other such as types of vehicles in a transportation study grouped together by weight. Planners often use ordinal (rank) scale in studies Such as ranking opinion of something from excellent to poor

Question 31

Interval scale

Answer 31

distances between the categories are purely arbitrary. This is used like the ratio scale (below) except that the interval scale always has a true zero point. The most common example of an interval scale of measurement is the measurement of temperature. In the Celsius temperature the intervals between readings are proportional starting from zero.

Question 32

Ratio scale

Answer 32

the ratio between any two intervals is established and the ratio between any two intervals is independent of the unit of measurement and of the zero point. This scale is often used to measure the cost of one project relative to the other alternative or compared to benefits. Most planners are familiar with ratios. The most commonly used is Floor Area Ratio (F.A.R.). What the planner is looking for is what the maximum floor area is that is allowed on a lot due to the zoning district classification.

Question 33

To find the F.A.R.:

Answer 33

F.A.R. = Total Floor Area | Total Lot Area

Question 34

Descriptive statistics

Answer 34

is concerned with organizing and summarizing data such as the medium cost of housing or the mean of government spending on different services.

Question 35

Mean

Answer 35

is simply the average

Question 36

Median

Answer 36

is the value that exactly separates the upper half of the distribution from the lower half.

Question 37

Mode

Answer 37

is the data point that is made most frequently. Frequency is how many points (measurements/numbers) are located in each interval.

Question 38

Null hypothesis

Answer 38

The null hypothesis (Ho) is the hypothesis of no difference. All statistical tests are designed to determine whether or not you have sufficient reason to reject your null hypothesis. If your data indicate a statistically significant reason to reject your null hypothesis, then you can accept one of your alternative hypotheses.

Question 39

Confidence level

Answer 39

this is the predetermined level, usually of .05, that denotes that most of your data fell within a normal distribution. The larger the confidence level, the more closely Your data fits within a normal distribution and thus the more confident you may be of your findings.

Question 40

dispersion

Answer 40

describe is the spread of the data about the mean