Front

What type of data is represented by the time it takes for a runner to complete a race?

Back

Continuous data.

Front

What is a Pareto chart?

Back

A type of bar chart where the values are represented in descending order, often used to highlight the most significant factors in a dataset.

Front

What is the Poisson distribution used for?

Back

To model the number of events occurring within a fixed interval of time or space, given a known average rate of occurrence.

Front

What is stratified sampling?

Back

A sampling method where the population is divided into subgroups (strata) and random samples are taken from each stratum.

Front

How do you calculate the standard deviation of a binomial distribution?

Back

The standard deviation is calculated using the formula: σ = √(n * p * (1 - p)), where n is the number of trials and p is the probability of success.

Front

What is the difference between continuous and discrete data?

Back

Continuous data can take any value within a range, while discrete data consists of distinct, separate values.

Front

What is the formula for the Poisson probability mass function?

Back

P(X=k) = (λ^k * e^(-λ)) / k!, where λ is the average rate of occurrence and k is the number of occurrences.

Front

What is the significance of a Pareto chart in data analysis?

Back

It helps identify the most important factors in a dataset, allowing for focused improvement efforts.

Front

What is the expected value in a probability distribution?

Back

The expected value is the long-term average or mean of a random variable, calculated as E(X) = Σ [x * P(x)].

Front

What is the central limit theorem?

Back

It states that the distribution of the sample means approaches a normal distribution as the sample size increases, regardless of the population's distribution.