Stats Exam 1 - ECON 2843 - University Of
Oklahoma Questions With Correct
Answers
What are the 2 branches of statistics? - CORRECT ANSWER✔✔-
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Descriptive Stats, Inferential Stats
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Define Descriptive Stats. - CORRECT ANSWER✔✔-Stats that describe
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data (mean, median, mode etc...)
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Define Inferential Stats. - CORRECT ANSWER✔✔-Stats that draw a
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conclusion or forecast a projection.
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Can you be exhaustive and mutually exclusive? - CORRECT ANSWER✔✔-
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Exhaustive: one of two events must occur. Mutually exclusive: two
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events cannot occur simultaneously.
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How do you write the notation for 2 events that are independent? -
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CORRECT ANSWER✔✔-P(A and B) = P(A) * P(B)
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, What is a Z score? - CORRECT ANSWER✔✔-Shows how many SD above
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or below the mean you are, allows comparison of different data sets.
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What is the formula for calculating Z score? - CORRECT ANSWER✔✔-(x -
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xbar) / SD
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Calculate the Z score given exam grade = 92, class average = 88, SD = 2. -
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CORRECT ANSWER✔✔-Z score = 2
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How do we define population? - CORRECT ANSWER✔✔-Entire group of
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individuals or objects of interest. | | | |
How is sample different from population? - CORRECT ANSWER✔✔-
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Sample is a subset of the population.
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How do you label the axis for a bar chart? - CORRECT ANSWER✔✔-
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Variable on x-axis, frequency or relative frequency on y-axis.
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Give an example of population and its sample. - CORRECT ANSWER✔✔-
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Population: OU student body, Sample: Econ 2843 students.
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What are quantitative and qualitative variables/data? - CORRECT
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ANSWER✔✔-Quantitative: numerical data, Qualitative: categorical data. | | | | |
Oklahoma Questions With Correct
Answers
What are the 2 branches of statistics? - CORRECT ANSWER✔✔-
| | | | | | | | |
Descriptive Stats, Inferential Stats
| | |
Define Descriptive Stats. - CORRECT ANSWER✔✔-Stats that describe
| | | | | | | |
data (mean, median, mode etc...)
| | | |
Define Inferential Stats. - CORRECT ANSWER✔✔-Stats that draw a
| | | | | | | | |
conclusion or forecast a projection.
| | | |
Can you be exhaustive and mutually exclusive? - CORRECT ANSWER✔✔-
| | | | | | | | |
Exhaustive: one of two events must occur. Mutually exclusive: two
| | | | | | | | | |
events cannot occur simultaneously.
| | |
How do you write the notation for 2 events that are independent? -
| | | | | | | | | | | | |
CORRECT ANSWER✔✔-P(A and B) = P(A) * P(B)
| | | | | | |
, What is a Z score? - CORRECT ANSWER✔✔-Shows how many SD above
| | | | | | | | | | | |
or below the mean you are, allows comparison of different data sets.
| | | | | | | | | | |
What is the formula for calculating Z score? - CORRECT ANSWER✔✔-(x -
| | | | | | | | | | |
xbar) / SD
| | |
Calculate the Z score given exam grade = 92, class average = 88, SD = 2. -
| | | | | | | | | | | | | | | |
CORRECT ANSWER✔✔-Z score = 2
| | | | |
How do we define population? - CORRECT ANSWER✔✔-Entire group of
| | | | | | | | | |
individuals or objects of interest. | | | |
How is sample different from population? - CORRECT ANSWER✔✔-
| | | | | | | |
Sample is a subset of the population.
| | | | | |
How do you label the axis for a bar chart? - CORRECT ANSWER✔✔-
| | | | | | | | | | | |
Variable on x-axis, frequency or relative frequency on y-axis.
| | | | | | | |
Give an example of population and its sample. - CORRECT ANSWER✔✔-
| | | | | | | | | |
Population: OU student body, Sample: Econ 2843 students.
| | | | | | |
What are quantitative and qualitative variables/data? - CORRECT
| | | | | | | |
ANSWER✔✔-Quantitative: numerical data, Qualitative: categorical data. | | | | |
