Organizing, Visualizing, and Describing Data

Question 1

Data that is measured or counted

Answer 1

Numerical

Question 2

2 types of numerical data

Answer 2

Continuous and discrete

Question 3

Data that can be measured and can take on any value in a range of values

Answer 3

Continuous numerical data - FV of an investment

Question 4

Numerical data that result from a counting process

Answer 4

Discrete numerical data - the frequency of discrete compounding

Question 5

2 types of data

Answer 5

Numerical and Categorical

Question 6

Data that describe a characteristic or quality

Answer 6

categorical data

Question 7

Other names for Numerical and Categorical data

Answer 7

Quantitative and Qualitative data

Question 8

Categorical data not amenable to a logical order

Answer 8

nominal - stock sectors

Question 9

Categorical data able to be logically ordered

Answer 9

ordinal data - ratings for investment funds

Question 10

science of dealing with collection, analysis, interpretation, and presentation of numerical data

Answer 10

statistics

Question 11

1. the study of how large datasets can be effectively summarized
2. studies of central tendency and variation of data

Answer 11

descriptive statistics

Question 12

making extrapolations, estimates, forecasts about a large group from a smaller group

Answer 12

statistical inference

Question 13

the complete group (objects, persons, items of interest) being studiued

Answer 13

population

Question 14

a portion of the group being studied

Answer 14

sample

Question 15

parameter vs statistic

Answer 15

a descriptive measure of a population vs a sample, respectively (p&s)

Question 16

even distance between (consecutive) numbers

comment on zero

Answer 16

interval
zero is arbitrary

Question 18

multiple data units at a given time

Answer 18

cross-sectional data

Question 19

one unit of data across multiple time aliquots

Answer 19

time-series data

Question 20

data that is patterned vs unpatterned

Answer 20

structured vs unstructured data

Question 21

examples of structured data

Answer 21

market data - stock prices

fundamental data - financial statement data

analytics - cash flows

Question 22

examples of unstructured data

Answer 22

produced by individuals - social media, posts, web searches

Question 23

rank measures from more useful to less useful (interval, nominal, ordinal, ratio)

Answer 23

ratio, interval, ordinal, nominal

Question 24

format for representing one variable

Answer 24

one-dimensional array

Question 25

format for representing more than one variable via rows/columns

Answer 25

two-dimensional array

Question 26

What is another name for a two-dimensional array?

Answer 26

data table

Question 27

another name for a frequency distribution

Answer 27

one-way table

Question 28

tool for summarizing data into groups or bins for display

Answer 28

frequency distribution

Question 29

GICS stands for

Answer 29

Global Industry Classification Standard

Question 30

real or actual frequency

Answer 30

absolute frequency

Question 31

frequency as a percent number of observations

Answer 31

relative frequency

Question 32

interval data where zero is an absolute number

Answer 32

ratio

Question 33

raw data or non-summarized data

Answer 33

ungrouped data

Question 34

data in a frequency distribution

Answer 34

grouped data

Question 35

depiction of frequency distribution

Answer 35

histogram

Question 36

also known as a 2 way table

Answer 36

contingency table

Question 37

displays 2 or more categorical variables

Answer 37

contingency table

Question 38

frequency at the intersection of a particular row and column

Answer 38

joint frequency

Question 39

sums of joint frequencies

Answer 39

marginal frequency

Question 40

2x2 contingency table in matrix form revealing actual and fake predictions within classes

Answer 40

confusion matrix

Question 41

histogram with line graph showing relative frequencies

Answer 41

frequency polygon

Question 42

frequency polygon with cumulative frequencies

Answer 42

ogive

Question 43

circular depiction of data as a percent

Answer 43

pie chart

Question 44

steps of creating a frequency distribution

Answer 44

1. sort into ascending order 2. range 3. choose # of bins (k) 4. bin width = range/k 5. place the observations in the bins 6. construct a table of bins from smallest to largest

Question 45

test of association between 2 categorical variables

Answer 45

chi-square test

Question 46

arranges data by left digit and right digit to present data concentrations

Answer 46

stem and leaf plot

Question 47

used in quality control to tally qualitative issues

Answer 47

pareto chart

Question 48

2-variable numeric chart used to show correlation

Answer 48

scatter plot

Question 49

measures of where data tends to cluster

Answer 49

measures of central tendency

Question 50

mathematical average influenced by outliers

Answer 50

mean

Question 51

middle value in an array, not affected by the magnitude of extreme values

Answer 51

median

Question 52

most frequent value (2 or more frequent values in data,

Answer 52

mode

Question 53

central tendency measurement commonly used with ordinal data

Answer 53

median

Question 54

central tendency measurement commonly used with interval/ratio data

Answer 54

mean

Question 55

central tendency measurement commonly used with nominal data

Answer 55

mode

Question 56

measures of how spread out data is

Answer 56

measures of dispersion

Question 57

sum of the absolute values of differences between observation and sample mean

Answer 57

mean absolute deviation (MAD)

Question 58

sum of the squared differences between the sample and the mean

Answer 58

variance

Question 59

measures variability of the dataset

Answer 59

variance

Question 60

percentage of variation with respect to the mean

Answer 60

coefficient of variation

Question 61

if data is in a roughly normal distribution, than it will be deposited in certain areas

Answer 61

empirical rule

Question 62

describes how much of a distribution is off center

Answer 62

skewness

Question 63

describes relationship of tails of a distribution to its center

Answer 63

kurtosis

Question 64

describe the mean and median in a normal distribution

Answer 64

they are even

Question 65

tall and skinny distribution

Answer 65

leptokurtic

Question 66

wide and flat distribution

Answer 66

platykurtic

Question 67

range between quartiles (50% of the middle distribution)

Answer 67

interquartile range

Question 68

what is coefficient of variation (CV) used for?

Answer 68

to compare datasets with different scales

Question 69

what is population vs sample coefficient of variation

Answer 69

pop CV = sigma / mu sample CV = s / x bar