EXAM #01

Data-ink is the ink used in a table or chart that:

is necessary to convey the meaning of the data to the audience.

Customers entering a store are asked to sample 3 cups of beverages and rank their preferences ordered from best to worst. What type of data results?

Ordinal

Any data value with a z-score less than -3 or greater than +3 is considered to be a(n) _____.

Outlier

The ______ probability distribution can be used to estimate the number of vehicles that go through an intersection during the lunch hour.

Poisson

A forecast that helps direct police officers to areas where crimes are likely to occur based on past data is an example of _________ analytics.

Predictive

The method helps managers arrive at an optimal solution.

Prescriptive

Data driven decision making tends to decrease a firm's_____.

Risk

A ____ is a graphical presentation of the relationship between two quantitative variables.

Scatter Chart

Which of the following graphs cannot be used to display categorical data?

Scatter Chart

The triangular distribution is a good model for ______. distribution.

Skewed

Probability is the____.

Numerical measure of the likelihood that an event will occur.

The charts that are helpful in making comparisons between categorical variables are:

Bar Charts and Column Charts

Quality grading of beef products as prime, choice, select. What type of data?

Categorical

A graphical presentation that uses vertical bars to display the magnitude of quantitative data is known as a:

Column Chart

an experiment consists of determining the speed of automobiles on a highway by the use of radar equipment. The random variable in this experiment is a

Continuous Random Variable

The _____ shows the number of data items with values less than or equal to the upper class limit of each class.

Cumulative Frequency distribution

The variance is based on the ____.

Deviation about the mean

A variable that can only take on specific numeric values is called a_______.

Discrete Random Variable

A ____ is a graphical summary of data previously summarized in a frequency distribution.

Histogram

The best way to differentiate chart elements is using:

Labels

Tables should be used instead of charts when______.

The values being displayed have different units or very different magnitudes.

All of the following are examples of discrete random variables except_____.

Time

A _____ determines how far a particular value is from the mean relative to the data set's standard deviation.

Z-score