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Midterm

Midterm cheat sheet.docx

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Department
Commerce
Course
COMM 496
Professor
Prof.
Semester
Winter

Description
4 types of Data Nominal -name Ordinal -order; such as a scale from 1-5 Interval -like ordinal except we can say the intervals between each value are equally split Ratio -interval data with a natural zero point. Excel Formulas Average over a period: Average() Sum over period Sum() Maximum values over period Max() Rolling Total =SUM($C$3:C3) Graphs Pie charts and bar charts are useful for nominal and ordinal data. Histograms and Ogives are useful for interval and ratio data Bins: Sturges formula determines how many Bins to use Number of bins = 1 + 3.3log(n) Determine width of each class/bin Class width ≅ (max­min)/# of desired bins Each class has the same width Pareto charts are frequently used for highlighting the relative frequency and contribution to the total for  categorical data. Histogram Symmetry -symmetric if it forms a mirror image around a line drawn through the center -skewed if it has long tail on 1 side Modality Refers to the # of peaks on a histogram 1 peak is unimodal 2 peaks are bimodal Scatter plots Scatter graphs can be used to depict the relationship between two interval or ratio variables 2 types of variables Response-Y, Explanatory X Plot frequency & cumulative frequency on same graph •  Select data to be plotted (if you don’t want all data, then use Ctrl (/Command) key to select portion wanted •  (PC); (MAC) •  Click on a Cumulative Frequency bar, and change it to Percentiles 99 percentiles create 100 groups of data IQR 75-25 Variance
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