AA C&C Final Review: Units 1 & 2 '24

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What is variance in statistics?

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Variance is a measure of how much values in a data set differ from the mean. It is calculated as the average of the squared differences from the mean.

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How do you calculate the variance of a data set?

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What is the empirical rule in statistics?

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The empirical rule states that for a normal distribution, approximately 68% of the data falls within one standard deviation of the mean, 95% within two standard deviations, and 99.7% within three standard deviations.

Front

What is the formula for compound interest?

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Front

What does a normal distribution curve represent?

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A normal distribution curve represents the distribution of a set of data that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean.

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What is the significance of the standard deviation in a data set?

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The standard deviation measures the amount of variation or dispersion in a set of values. A low standard deviation indicates that the values tend to be close to the mean, while a high standard deviation indicates that the values are spread out over a wider range.

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How do you find the margin of error in statistics?

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What is the difference between a population and a sample in statistics?

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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 group.

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What is the purpose of confidence intervals in statistics?

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Confidence intervals provide a range of values that are likely to contain the population parameter with a specified level of confidence, helping to estimate the uncertainty of a sample statistic.

Front

What is the formula for calculating the mean of a data set?

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