ECO 361 Midterm

Réussis tes devoirs et examens dès maintenant avec Quizwiz!

One Tailed Test

< >

Two Tailed Test

= ≠

Variable

A general characteristic being observed on a set of people, objects, or events, where each observation varies in kind or degree

Data Management

A process that an organization uses to acquire, organize, store, manipulate, and distribute data

Entity-Relationship Diagram (ERD)

A schematic used to illustrate the structure of the data

Information

A set of data that are organized and processed in a meaningful and purposeful way

Sample

A subset of the population

Big Data

A term used to describe a massive volume of both structured and unstructured data that are extremely difficult to manage, process, and analyze using traditional data-processing tools

Population

All observations or items of a interest in an analysis

Numerical Variable

Assumes meaningful numerical values

Categorical Variable

Assumes names or labels

Regression Analysis

Captures the relationship between two or more variables

Business Analytics

Combines qualitative reasoning with quantitative tools to identify key business problems and translate data analysis into decisions that improve business performance

Unstructured Data

Data that does not conform to a predefined data model.

Structured Data

Data that reside in a predefined row-column format

Knowledge

Derived from a blend of data, contextual information, experience, and intuition

Type II Error

Do not reject the null hypothesis when it is false

Delimited Format

Each column is separated by a comma and can contain as many characters as it wants

Fixed Width Format

Each column starts and ends at the same place in every row

Data

Facts, figures, or other contents, both numerical and nonnumerical

d=0

For the other categories

Least Sophisticated Measurement Scale

Nominal

d=1

One of the categories

Linear Regression

Postulates that the relationship between the response and predictors is linear

Most Sophisticated Measurement Scale

Ratio

Imputation Strategy

Recommends that missing values be replaced with some reasonable imputed values

Omission Strategy

Recommends that observations with missing values be excluded from subsequent analysis

Type I Error

Reject the null hypothesis when it is true

Relational Database

The most common type of database that consists of one or more logically related data files, where each data file is a 2D grid that consists of rows/columns

Confidence Interval

The narrower the interval, the more precise it is

Sample Proportion P

The point estimator of the population proportion p

Parameter P

The proportion of successes in the population

Dummy Variable

Used to describe two categories of a categorical variable, denoted d

Reject Null Hypothesis

When the sample evidence is inconsistent with the null hypothesis (p<a)

Do Not Reject Null Hypothesis

When the sample evidence is not inconsistent with the null (p>a)

Data Wrangling

process of retrieving, cleansing, integrating, transforming, and enriching data to support analytics


Ensembles d'études connexes

Management of Discomfort, intrapartum: normal labor and birth

View Set

MTA HTML5 Application Development Fundamentals Training 1

View Set

PrepU Chp 28: Assessment of Hematologic Function and Treatment Modalities

View Set

Names of Plates ***= Major Plates **= Minor *= Micro/Tiny

View Set

Unit 1: Beginning in Computer Science

View Set

ALGEBRA 1: FOUNDATIONS FOR ALGEBRA

View Set

Nurs 204 - Chapter 15: Head and Neck (3)

View Set

Chap. 7 Organization, Teamwork, and Communication

View Set