Fall24 Final Exam Review

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What is a regression equation?

Back

A regression equation is a mathematical formula that describes the relationship between a dependent variable and one or more independent variables, often used to predict outcomes.

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What is a quantitative variable?

Back

A quantitative variable is a type of variable that can be measured numerically and can be used in mathematical calculations, such as weight, height, or age.

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What is a z-score?

Back

A z-score indicates how many standard deviations an element is from the mean of a data set. It is calculated as (X - μ) / σ, where X is the value, μ is the mean, and σ is the standard deviation.

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How do you calculate the residual in a regression analysis?

Back

Residual = (actual value) - (predicted value). It measures the difference between the observed and predicted values.

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What is the purpose of a scatterplot?

Back

A scatterplot is used to visually display the relationship between two quantitative variables, helping to identify trends, correlations, or patterns.

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What does a high correlation coefficient (close to 1 or -1) indicate?

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A high correlation coefficient indicates a strong relationship between two variables, with values close to 1 showing a positive correlation and values close to -1 showing a negative correlation.

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What is the mean of a data set?

Back

The mean is the average of a set of numbers, calculated by adding all the values together and dividing by the number of values.

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What is standard deviation?

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Standard deviation is a measure of the amount of variation or dispersion in a set of values, indicating how much the values deviate from the mean.

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What is a pie chart used for?

Back

A pie chart is a circular statistical graphic that is divided into slices to illustrate numerical proportions, showing the relative sizes of parts to a whole.

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What is the difference between a population and a sample?

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A population includes all members of a specified group, while a sample is a subset of the population used to represent the whole.