Module 1 The Case for Quantitative Analysis

Question 1

There are two types of statistics (Analytics)

Answer 1

Descriptive and Inferential

Question 2

Descriptive statistics are used to ______

Answer 2

Inform / Explanatory

Question 3

Inferential statistics are used to ______

Answer 3

Predict / Trend

Question 4

Name the 4 levels of measurement

Answer 4

(NOIR) Nominal, Ordinal, Interval Ratio

Question 5

Continuous data with unique zero point

Answer 5

Ratio

Question 6

Orders data at equal distance apart

Answer 6

Interval

Question 7

Place qualitative objects in some kind of order

Answer 7

Ordinal

Question 8

Identify, Group, or Categorize

Answer 8

Nominal

Question 9

Outliers create this type of error

Answer 9

Out-of Range

Question 10

Unpredictable error

Answer 10

Random Error – No correlation

Question 11

Error may occur from missing data.

Example: Space not filled in

Answer 11

Omission Error – Distorted results

Question 12

This error repeats itself

Answer 12

Systematic Error – Skewed results

Question 13

What is the process of quality control?

Answer 13

Reduce/ minimize errors

Question 14

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

Answer 14

Experimental study

Question 15

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

Answer 15

Observational study

Question 16

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

Answer 16

Blind Study

Question 17

The procedure the researcher applies to each subject

Answer 17

Treatments

Question 18

Neither the treatment allocator nor the participants know who is in the treatment group or control group

Answer 18

Double blind study

Question 19

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

Answer 19

Information Bias

Question 20

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

Answer 20

Expected Monetary Value (EMV) Analysis

Question 21

Observation points that are distant from other observations.

Answer 21

Outliers

Note: Can be included or excluded in analysis (causes skewness)

Question 22

Bias that occurs from not selecting a random sample

Answer 22

Measurement bias

Question 23

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

Answer 23

Conscious bias