# CPROFIN

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version from
2017-08-14 13:23

## Quiz 1

Question | Answer |
---|---|

Time Series Data | Data collected over several time periods |

Outlier | An unusually small or unusually large data value |

Coefficient of Variation | A measure of linear association between two variables between -1 and +1 |

Population | It is the set of all elements of interest for a particular study |

Variable | Characteristics of interest for elements |

Tree Diagram | A graphical representation that helps in visualizing a multiple step experiment |

Subjective Method | A method of assigning probabilities on the basis of judgment |

Collecting, Analyzing, Presenting, Interpreting | Statistics is the art and science of ___, ____, ____, and ____ data |

Frequency Distribution | A tabular summary of data showing the number in each of several non-overlapping classes |

Steam and leaf display | An exploratory data analysis technique that simultaneously rank order and shape of the distribution of the data |

Cross tabulation | A set of categorical data with two variables can be organized using what statistical method |

Probability | A numerical measure of the likelihood an event will occur |

Empirical rule | A rule that can be used to compute the percentage of data values that must be within 1 to 3 standard deviations of the mean for data that exhibit a bell shaped distribution |

Ogive | A graph of a cumulative distribution |

Exploratory Data Analysis | Methods that use simple arithmetic and easy to draw graphs to summarize data quickly |

## Quiz 2

Question | Answer |
---|---|

Margin of error | Greatest possible distance between point estimate and the value of the estimated parameter |

Interval estimate | Interval we can assert with a reasonable degree of certainty that it will contain the parameter |

Statistical inference | The process of using data obtained from a sample to make estimates or test hypothesis about the characteristics of a population |

Central Limit Theorem | A theorem that enables one to use the normal probability distribution to approximate the sampling distribution of the mean whenever the sample size is large |

Unbiased | A property of a point estimator that is present when the expected value of the point estimator is equal to the population parameter it estimates |

Level of significance | The probability of making a type 1 error when the expected value of the point estimator is equal to the population parameter it estimates |

Alternative hypothesis | The hypothesis concluded to be true if the null hypothesis is rejected |

P-value approach | Probability that provides a measure of the evidence against the null hypothesis from the sample |

T-distribution | A family of curve that can be used to develop an interval estimate of the population mean whenever the standard deviation is unknown and estimated by the sample standard deviation |

Parameter | A numerical characteristic of a population like population mean, population standard deviation, a population proportion and so on. |

## Quiz 3

Question | Answer |
---|---|

Correlation coefficient | A measure of the strength of the linear relationship between two variables |

Coefficient of determination | A measure of the goodness of fit of the estimated regression equation and the proportion of the variability of the dependent variable hat is explained by the estimated regression equation |

Least squares method | A procedure used to develop the estimated regression equation |

Dependent variable | The variable being predicted or explained |

Independent variable | The variable that is doing the predicting or explaining |

Simple linear regression | Analysis involving one independent variable and one dependent variable |

Factor | Independent variable of interest |

Response Variable | Dependent variable of interest |

Treatments | Different levels of factor |

Completely randomized design | An experimental design in which the treatments are randomly assigned to the experimental units |

ANOVA Table | A table used to summarize the analysis of variance computations and results |

Randomized Block Design | An experimental design employing blocking |

Single factor experiment | An experiment involving only one factor with k populations or treatments |

Partitioning | The process of allocating the total sum of squares and degrees of freedom to various components |

Multicollinearity | The term used to describe the correlation among the independent variables |

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