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NEW QUESTION # 78
A data analyst has received a data set that contains actual and projected sales for the fourth quarter of 2019.
Which of the following statistical methods should the analyst use to find the measure of dispersion?
Answer: A
Explanation:
The measure of dispersion is used to describe the spread of data around a central value. In the context of a data set containing actual and projected sales, the measure of dispersion will help to understand the variability or consistency of sales figures. The variance is the most appropriate statistical method for finding the measure of dispersion because it calculates the average of the squared differences from the Mean, providing a clear picture of data spread. It is especially useful in comparing the spread between different data sets and understanding the distribution of data points.
* Mean is a measure of central tendency, not dispersion.
* Correlation measures the relationship between two variables, not the spread of a single variable.
* Confidence intervals are used to estimate the range within which a population parameter will fall, but they do not measure dispersion within the data set itself.
References:
* Measures of Dispersion in Statistics1
* Measures of Dispersion - Definition, Formulas, Examples2
* Statistical dispersion - Wikipedia3
NEW QUESTION # 79
A data analyst needs to create a data visualization that aids in un the cumulative impact of sequentially introduced values that are positive or negative. Which of the following data visualization methods should the analyst use?
Answer: B
Explanation:
Explanation
A waterfall chart is a type of data visualization that shows the cumulative impact of sequentially introduced values that are positive or negative. A waterfall chart typically has an initial value and a final value, with intermediate values shown as floating columns that either add to or subtract from the initial value. A waterfall chart can help visualize how different factors contribute to a net change in a value over time.
Therefore, the correct answer is B. References: [Waterfall Chart | Definition & Examples - Investopedia], [Waterfall Charts in Excel | How to Create Waterfall Chart in Excel?]
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NEW QUESTION # 80
Consider this dataset showing the retirement age of 11 people, in whole years:
54, 54, 54, 55, 56, 57, 57, 58, 58, 60, 60
This tables show a simple frequency distribution of the retirement age data.
Answer: B
Explanation:
A measure of central tendency (also referred to as measures of centre or central location) is a summary measure that attempts to describe a whole set of data with a single value that represents the middle or centre of its distribution.
There are three main measures of central tendency: the mode, the median and the mean. Each of these measures describes a different indication of the typical or central value in the distribution.
What is the mode?
The mode is the most commonly occurring value in a distribution.
The most commonly occurring value is 54, therefore the mode of this distribution is 54 years.
NEW QUESTION # 81
A research analyst wants to determine whether the data being analyzed is connected to other datapoints.
Which of the following is the BEST type of analysis to conduct?
Answer: B
NEW QUESTION # 82
Which one of the following is a measure of dispersion?
Answer: A
NEW QUESTION # 83
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