Summarising Data

Question 1

Types of data

Answer 1

Numerical data

Categorical data

Question 2

Numerical data

Answer 2

Discrete data

Continuous data

Question 3

Categorical data

Answer 3

Attribute/ dichotomous data
Nominal data
Ordinal data

Question 4

Descriptive statistics

Answer 4

The methodology for describing or summarising a set of data using tables, diagrams and numerical measures.

Question 5

Batch data

Answer 5

Are a set of related observation, such as the current inflation rates of EU countries.

Question 6

Sample data

Answer 6

Are a set of observation selected from a population and designed to be representative of that population.

Question 7

Discrete data

Answer 7

Can only take one of a set of particular values.

Discrete data arise from counting.

Question 8

Continuous data

Answer 8

Can take any value within a specified range.

Continuous data arise from measuring.

Question 9

Attribute/ Dichotomous data

Answer 9

Have only two categories.

Eg yes/no, male/ female

Question 10

Nominal data

Answer 10

Have several unordered categories.

Type of policy, nature of claim

Question 11

Ordinal data

Answer 11

Have several ordered categories.

Strongly in favour/ … / Strongly against

Question 12

Frequency distribution

Answer 12

List data values along with there corresponding frequencies.

Question 13

Frequency

Answer 13

The number of times something occurs.

Question 14

Types of frequency distribution

Answer 14

Standard frequency distribution
Cumulative frequency distribution
Grouped frequency distribution
Relative frequency distribution
Percentage frequency distribution

Question 15

Number of classes in a frequency distribution

Answer 15

2^k >= n

K no of classes
N no of observation

Question 16

Class interval

Answer 16

Each category of the data sample.

Question 17

Class interval formula

Answer 17

Max value - min value

Question 18

Width class

Answer 18

Class interval / no of classes

Question 19

Bar Chart

Answer 19

Is a chart or graph that represent categorical data with rectangular bars with heights proportional to the values that they represent.

A bar graph shows comparisons among discrete categories.

Question 20

Types of bar chart

Answer 20

Standard bar chart
Grouped bar chart
Stacked bar chart

Question 21

Grouped bar chart

Answer 21

Is used to compare the same categories within different groups.

Question 22

Stacked Bar Chart

Answer 22

Highlight the part to whole relationship of categories and compare various groups with this stacked bar graph.

Question 23

Histogram

Answer 23

Is an accurate representation of the distribution of nu erical data; an estimate of the probability distribution of a continuous variable.

Question 24

Measures of location are used to

Answer 24

Estimate the Central point of a sample; different ways of calculating the average value for the data set.

Question 25

The sample mean

Answer 25

Is used to describe Central tendency where the sample is not influenced by the outlines.

Question 26

The sample mean for grouped data

Answer 26

Used the midpoint of each group to be determined

Question 27

The median

Answer 27

Place the n observation in order of magnitude. The median is a value, which splits the data in two equal halves, so that the half observatios are less than the median and half are grater than the median.

Question 28

How can the median be exxpressed

Answer 28

(n+1)/2 the observation

Question 29

The median is used

Answer 29

• when the distribution is skewed

- for ordinal data in which values are ranked relative to each other but are not measured absolutely

Question 30

Advantage of the median

Answer 30

Is robust or resistant to the effects of extreme observations

Question 31

The median of grouped data

Answer 31

We use interpolation

Question 32

The mode

Answer 32

The value which occurs with the greatest frequency or the most typical value

Question 33

Probability Space

Answer 33

Is a mathematical construct that models a real world procces or “experiment” consisting of states that occur randomly.

Question 34

A probability space consist of

Answer 34

A sample space
A set of events
A function that measures the likelihood of happening

Question 35

A sample space

Answer 35

Is the set of all possible outcomes

Question 36

A set of events

Answer 36

Each event contains 0 or more outcomes; is a subset of the sample space.

Question 37

The probability function

Answer 37

Is a function returning an event’s probability; a number between 0 and 1

Question 38

Outcome

Answer 38

The result of a single execution of the model