Questions and CORRECT Answers
Central Limit Theorem - CORRECT ANSWER -As you sample size increases, your distribution
will more closely approximate a normal distribution
Normal Distribution - CORRECT ANSWER -data will be around a central value with no bias left
or right
Skewness - CORRECT ANSWER -Measure of the asymmetry of the distribution
Symmetrical distribution has a skew of 0
If the skew is more than 2 or less than -2, the skew is substantial
Positive Skew - CORRECT ANSWER -Right skewed
long tail to the right
mean is higher than the median
Negative Skew - CORRECT ANSWER -Left-skewed
long tail to the left
mean is lower than the median
Kurtosis - CORRECT ANSWER -Measure of how peaked or flat the distribution is.
* if excess kurtosis is more than 2 or less than -2, the kurtosis is substantial
Leptokurtic - CORRECT ANSWER -higher peak, positive value
Mesokurtic - CORRECT ANSWER -Normal, Value of 0
, Platykurtic - CORRECT ANSWER -Flatter peak, negative value
The Z-Score - CORRECT ANSWER -standard score that is the result of dividing the difference of
raw score from the mean of the distribution by the standard deviation
Z= X- U/ Std dev
calculate using formula
Excel (STANDARDIZE function)
Z-score: Scores below ( to the left of) - CORRECT ANSWER -the mean are negative
Z-score: Scores above ( to the right of) - CORRECT ANSWER -the mean are positive
Z-Score
Sample size over 30
population standard deviation is known - CORRECT ANSWER -Z= X-U/ std
T- Score
Sample size under 30
population standard deviation is unknown - CORRECT ANSWER -t= x-x/ s
A description of how peaked or flat a distribution is - CORRECT ANSWER -Kurtosis
T/F: Symmetrical distribution has a skew of 0 - CORRECT ANSWER -True
This is the % of the distribution that falls within one standard deviation of the normally distributed mean -
CORRECT ANSWER -68%
A distribution where the median is less than the mean is considered? - CORRECT ANSWER -
Positively skewed, left modal