Intro

Question 1

Explain the analysis based on number of variable

Answer 1

Uni- descriptive analysis

Bi-correlation, covariance (only direction)

Multivariate-measure,explain and predict the degree of relationship among variables

Question 2

What are the two main types of data?

Answer 2

Quantitative and qualitative.

Question 3

True or False: Quantitative data can be categorized into nominal and ordinal types.

Answer 3

False.

Question 4

Fill in the blank: Quantitative data can be divided into _____ and _____ types.

Answer 4

Ratio and interval.

Question 5

What type of data is used for counting and measuring?

Answer 5

Quantitative data.

Question 6

Name one example of qualitative data.

Answer 6

Colors or names.

Question 7

What is the defining feature of ratio data?

Answer 7

It has a true zero point.

Question 8

Which type of data is used for ranking?

Answer 8

Ordinal data.

Question 9

What type of data is temperature measured in Celsius or Fahrenheit?

Answer 9

Interval data.

Question 10

True or False: Nominal data can be ordered or ranked.

Answer 10

False.

Question 11

What distinguishes interval data from ratio data?

Answer 11

Interval data does not have a true zero point.

Question 12

Multiple choice: Which of the following is an example of nominal data? A) Age B) Gender C) Height

Answer 12

B) Gender.

Question 13

What type of data includes categories without any order?

Answer 13

Nominal data.

Question 14

Fill in the blank: _____ data includes both discrete and continuous data.

Answer 14

Quantitative.

Question 15

True or False: Ordinal data can be used for calculations like addition and subtraction.

Answer 15

False.

Question 16

What is an example of ordinal data?

Answer 16

Survey ratings (e.g., good, better, best).

Question 17

Multiple choice: Which of the following is NOT a type of quantitative data? A) Ratio B) Interval C) Nominal

Answer 17

C) Nominal.

Question 18

What is the primary use of qualitative data?

Answer 18

To describe characteristics or qualities.

Question 19

Which type of data can have a meaningful zero value?

Answer 19

Ratio data.

Question 20

Fill in the blank: _____ data is often used in statistical analysis to summarize data trends.

Answer 20

Quantitative.

Question 21

True or False: Interval scales can be used for measuring time.

Answer 21

True.

Question 23

What is skewness?

Answer 23

Skewness is a measure of the asymmetry of the probability distribution of a real-valued random variable.

Question 24

What does a skewness value of 0 indicate?

Answer 24

A skewness value of 0 indicates that the distribution is symmetric.

Question 25

True or False: A positive skewness indicates that the right tail of the distribution is longer or fatter than the left tail.

Answer 25

True

Question 26

What is kurtosis?

Answer 26

Kurtosis is a statistical measure that describes the distribution of data points in the tails relative to the overall shape of the distribution.

Question 27

What does a kurtosis value greater than 3 indicate?

Answer 27

A kurtosis value greater than 3 indicates a distribution with heavier tails and a sharper peak than a normal distribution.

Question 28

Fill in the blank: A distribution with negative skewness has a longer ______ tail on the left side.

Answer 28

left

Question 29

What is the relationship between skewness and the mean, median, and mode in a skewed distribution?

Answer 29

In a positively skewed distribution, the mean is greater than the median, which is greater than the mode.

Question 30

True or False: Kurtosis can be classified into three types: mesokurtic, leptokurtic, and platykurtic.

Answer 30

True

Question 31

What is mesokurtic distribution?

Answer 31

Mesokurtic distribution is a distribution that has a kurtosis value of 3, similar to a normal distribution.

Question 32

What does a negative kurtosis value indicate?

Answer 32

A negative kurtosis value indicates a distribution with lighter tails and a flatter peak than a normal distribution.

Question 33

Fill in the blank: In a symmetric distribution, skewness is equal to ______.

Answer 33

0

Question 34

What type of distribution has a positive skewness?

Answer 34

A distribution with a longer right tail.

Question 35

True or False: Kurtosis measures the height and sharpness of the peak of a distribution.

Answer 35

True

Question 36

What is the formula for calculating skewness?

Answer 36

Skewness = (n / ((n-1)(n-2))) * Σ((xi - x̄)³ / s³), where n is the number of observations, xi is each value, x̄ is the mean, and s is the standard deviation.

Question 37

What is the formula for calculating kurtosis?

Answer 37

Kurtosis = (n(n+1) / ((n-1)(n-2)(n-3))) * Σ((xi - x̄)⁴ / s⁴) - (3(n-1)² / ((n-2)(n-3))), where n is the number of observations.

Question 38

Fill in the blank: A distribution with a kurtosis less than 3 is called ______.

Answer 38

platykurtic

Question 39

What does a leptokurtic distribution look like?

Answer 39

A leptokurtic distribution has heavy tails and a sharp peak, indicating more outliers.

Question 40

True or False: A negative skewed distribution has a longer right tail than left tail.

Answer 40

False

Question 41

What is the implication of high skewness in data analysis?

Answer 41

High skewness indicates that the data may not meet the assumptions of normality, which can affect statistical tests.

Question 42

Fill in the blank: In a positively skewed distribution, the mode is ______ than the mean.

Answer 42

less

Question 43

What statistical test can be affected by skewness?

Answer 43

T-tests and ANOVA can be affected by skewness.

Question 44

What does it mean if a distribution has a skewness of -1?

Answer 44

It indicates a moderately left-skewed distribution.

Question 45

Fill in the blank: The greater the absolute value of skewness, the ______ the asymmetry of the distribution.

Answer 45

greater

Question 46

What is the impact of kurtosis on risk assessment in finance?

Answer 46

Higher kurtosis indicates higher risk due to the presence of more extreme values or outliers.

Question 47

What is skewness?

Answer 47

Skewness is a measure of the asymmetry of the probability distribution of a real-valued random variable.

Question 48

What does a skewness value of 0 indicate?

Answer 48

A skewness value of 0 indicates that the distribution is symmetric.

Question 49

True or False: A positive skewness indicates that the right tail of the distribution is longer or fatter than the left tail.

Answer 49

True

Question 50

What is kurtosis?

Answer 50

Kurtosis is a statistical measure that describes the distribution of data points in the tails relative to the overall shape of the distribution.

Question 51

What does a kurtosis value greater than 3 indicate?

Answer 51

A kurtosis value greater than 3 indicates a distribution with heavier tails and a sharper peak than a normal distribution.

Question 52

Fill in the blank: A distribution with negative skewness has a longer ______ tail on the left side.

Answer 52

left

Question 53

What is the relationship between skewness and the mean, median, and mode in a skewed distribution?

Answer 53

In a positively skewed distribution, the mean is greater than the median, which is greater than the mode.

Question 54

True or False: Kurtosis can be classified into three types: mesokurtic, leptokurtic, and platykurtic.

Answer 54

True

Question 55

What is mesokurtic distribution?

Answer 55

Mesokurtic distribution is a distribution that has a kurtosis value of 3, similar to a normal distribution.

Question 56

What does a negative kurtosis value indicate?

Answer 56

A negative kurtosis value indicates a distribution with lighter tails and a flatter peak than a normal distribution.

Question 57

Fill in the blank: In a symmetric distribution, skewness is equal to ______.

Answer 57

0

Question 58

What type of distribution has a positive skewness?

Answer 58

A distribution with a longer right tail.

Question 59

True or False: Kurtosis measures the height and sharpness of the peak of a distribution.

Answer 59

True

Question 60

What is the formula for calculating skewness?

Answer 60

Skewness = (n / ((n-1)(n-2))) * Σ((xi - x̄)³ / s³), where n is the number of observations, xi is each value, x̄ is the mean, and s is the standard deviation.

Question 61

What is the formula for calculating kurtosis?

Answer 61

Kurtosis = (n(n+1) / ((n-1)(n-2)(n-3))) * Σ((xi - x̄)⁴ / s⁴) - (3(n-1)² / ((n-2)(n-3))), where n is the number of observations.

Question 62

Fill in the blank: A distribution with a kurtosis less than 3 is called ______.

Answer 62

platykurtic

Question 63

What does a leptokurtic distribution look like?

Answer 63

A leptokurtic distribution has heavy tails and a sharp peak, indicating more outliers.

Question 64

True or False: A negative skewed distribution has a longer right tail than left tail.

Answer 64

False

Question 65

What is the implication of high skewness in data analysis?

Answer 65

High skewness indicates that the data may not meet the assumptions of normality, which can affect statistical tests.

Question 66

Fill in the blank: In a positively skewed distribution, the mode is ______ than the mean.

Answer 66

less

Question 67

What statistical test can be affected by skewness?

Answer 67

T-tests and ANOVA can be affected by skewness.

Question 68

What does it mean if a distribution has a skewness of -1?

Answer 68

It indicates a moderately left-skewed distribution.

Question 69

Fill in the blank: The greater the absolute value of skewness, the ______ the asymmetry of the distribution.

Answer 69

greater

Question 70

What is the impact of kurtosis on risk assessment in finance?

Answer 70

Higher kurtosis indicates higher risk due to the presence of more extreme values or outliers.