Organizing, Describing and Visualizing Data

Question 1

Values that can be counted or measured are called _____ data.

Answer 1

Numerical (or Quantitative)

Question 2

Discrete and Continuous data are types of _____ data.

Answer 2

Numerical (or Quantitative)

Question 3

Data that is countable, such as the months, days, or hours in a year is called _____ data.

Answer 3

Discrete

Question 4

Data that can take any fractional value is called _____ data.

Answer 4

Continuous

Question 5

Data that consist of labels that can be used to classify a set of data into groups is called _____ data.

Answer 5

Categorical (or Qualitative)

Question 6

Nominal and ordinal data are type of _____ data.

Answer 6

Categorical (or Qualitative)

Question 7

Labels that cannot be placed in order logically is called _____ data.

Answer 7

Nominal

Question 8

Data that can be ranked in a logical order is called _____ data.

Answer 8

Ordinal

Question 9

A a set of observations taken periodically, most often at equal intervals over time is called _____.

Answer 9

Time series

Question 10

A set of comparable observations all taken at one specific point in time is called _____.

Answer 10

Cross-sectional data

Question 11

The combination of time series and cross-sectional data, often presented in tables is called _____.

Answer 11

Panel data

Question 12

Time series, cross-sectional, and panel data, organized in a defined way, are examples of _____ data.

Answer 12

Structured data (ex: market data, fundamental data, etc.)

Question 13

Information that is presented in a form with no defined structure is refered to as _____ data.

Answer 13

Unstructured data (ex: management commentaries, must be transformed into structured data to be analyzed)

Question 14

A time series is an example of a _____ array.

Answer 14

One-dimensional

Question 15

For any frequency distribution, the interval with the greatest frequency is referred to as the _____ interval.

Answer 15

Modal

Question 16

The _____ frequency is the percentage of total observations falling within each interval.

Answer 16

Relative

Question 17

The _____ frequency is the number of observations falling within an interval.

Answer 17

Absolute

Question 18

A _____ is a two-dimensional array with which we can analyze two variables at the same time.

Answer 18

Contingency table (ex: Accidents by intersection and day of week)

Question 19

One kind of contingency table is a 2-by-2 array called a _____.

Answer 19

Confusion matrix

Question 20

To analyze three variables at the same time, an analyst can create a _____.

Answer 20

Scatter plot matrix

Question 21

The most effective chart types for visualizing RELATIONSHIPS are _____.

Answer 21

Scatter plots, scatter plot matrices, and heat maps

Question 22

The most effective chart types for COMPARING CATEGORIES are _____.

Answer 22

Bar charts, tree maps, and heat maps

Question 23

The most effective chart types for COMPARING OVER TIME are _____.

Answer 23

Line charts, dual-scale line charts, and bubble line charts

Question 24

The most effective chart types for visualizing DISTRIBUTIONS of NUMERICAL DATA are _____.

Answer 24

Histograms, frequency polygons, and cumulative distribution charts

Question 25

The most effective chart types for visualizing DISTRIBUTIONS of CATEGORICAL DATA are _____.

Answer 25

Bar charts, tree maps, and heat maps

Question 26

The mean that excludes a stated percentage of the most extreme observations (ex: discard the lowest 0.5% and the highest 0.5% of the observations) is called the _____ mean.

Answer 26

Trimmed

Question 27

The mean that substitute a value for the highest and lowest observations is called the _____ mean.

Answer 27

Windsorized

Question 28

The trimmed and winzorized means are used to control for _____.

Answer 28

Outliers

Question 29

The midpoint of a data set when the data is arranged in ascending or descending order is called the _____.

Answer 29

Median

Question 30

The value that occurs most frequently in a data set is called the _____.

Answer 30

Mode

Question 31

The mean to use for estimating the next observation, expected value of a distribution is the _____ mean.

Answer 31

Arithmetic

Question 32

The mean to find the compound rate of returns over multiple periods is the _____ mean.

Answer 32

Geometric

Question 33

The mean to use for estimating the mean without the effects of a given percentage of outliers is the _____ mean.

Answer 33

Trimmed

Question 34

The mean to use for estimating the mean while decreasing the effects of a given percentage of outliers is the _____ mean.

Answer 34

Winzorized

Question 35

The mean to use to calculate the average share cost from periodic purchases in a fixed dollar amount is the _____ mean.

Answer 35

Harmonic

Question 36

The difference between the third quartile and the first quartile (25th percentile) is known as the _____.

Answer 36

Interquartile range

Question 37

To visualize a data set based on quantiles, we can create a _____ plot.

Answer 37

Box and whisker

Question 38

The _____ is the distance between the largest and the smallest value in the data set.

Answer 38

Range

Question 39

The average of the absolute values of the deviations of individual observations from the arithmetic mean divided by the sample size is called the _____.

Answer 39

Mean absolute deviation (MAD)

Question 40

The coefficient of variation (CV) is computed as the _____ of X divided by the _____ of X.

Answer 40

Standard deviation, Average value

Question 41

One measure of downside risk that involves choosing a target value against which to measure each outcome and only include deviations from the target value is called _____.

Answer 41

Target downside deviation (or Target semideviation)

Question 42

_____ refers to the extent to which a distribution is not symmetrical.

Answer 42

Skewness (or Skew)

Question 43

For a _____ distribution, the mean, median, and mode are equal.

Answer 43

Symmetrical

Question 44

For a positively skewed, unimodal distribution, the _____is less than the _____, which is less than the _____.

Answer 44

Mode, median, mean

Question 45

Among median, mean, and mode, the _____ is the most affected by skewness.

Answer 45

Mean

Question 46

_____ is a measure of the degree to which a distribution is more or less peaked than a normal distribution.

Answer 46

Kurtosis

Question 47

LEPTOKURTIC describes a distribution that is _____ peaked than a normal distribution, whereas PLATYKURTIC refers to a distribution that is _____ peaked than a normal distribution. (Fill the blanks with ''more'' or ''less'')

Answer 47

More, less

Question 48

A LEPTOKURTIC return distribution will have _____ returns clustered around the mean and _____ returns with large deviations from the mean. (Fill the blanks with ''more'' or ''less'')

Answer 48

More, more

Question 49

A distribution is said to exhibit _____ if it has either more or less kurtosis than the normal distribution.

Answer 49

Excess kurtosis

Question 50

Excess kurtosis = Sample kurtosis − X Find ''X''.

Answer 50

3

Question 51

_____ is a measure of HOW two variables move together.

Answer 51

Covariance

Question 52

_____ measures the STRENGHT of the linear relationship between two random variables.

Answer 52

Correlation

Question 53

_____ correlation refers to correlation that is either the result of chance or present due to changes in both variables over time that is caused by their association with a third variable.

Answer 53

Spurious