Review Chapters 1-3 Quiz 3-Week 6

In a data set with 19 variables, if 9% of the values, randomly spread across observations, are missing (blank), what is the probable percent of complete and usable observations?

16.66%

In a data set with 20 variables, if 8% of the values, randomly spread across observations, are missing (blank), what is the probable percent of complete and usable observations?

18.87%

Four observations were binned into one group. In this group, the values are: 40, 61, 38, & 33. What is the average of the group?

43

Using the simple mean imputation strategy, what value would be placed in the missing observation in x1? X1 - X2 76 - 22 82 - ___ 85 - 32 ___ - 41 82 - 28

81

Using the omission strategy, what value would be placed in the missing observation in x1? X1 - X2 90 - 22 84 - ___ 91 - 32 ___ - 41 88 - 28

No value because excluded

Data are the compilation of facts, figures, or other contents, both numerical and non-numerical.

True

Generally speaking, it is not feasible to obtain complete population data due to expense and near impossibility to examine every member of the population.

True

The ability to use qualitative reasoning with quantitative tools allows management to make decisions to improve business performance.

True

The degree of strength of the linear relationship between x and y is called?

correlation coefficient

In the presence of outliers in a data set, extremely small or large values, it is preferred to use the __________ instead of the ________ to impute missing variables.

median; mean