Random Errors - Answer Error in measurement caused by unpredictable statistical fluctuations
Information Bias - Answer A prejudice in the data that
... [Show More] results when either the respondent or the interviewer has an agenda and is not presenting impartial questions or responding with truly honest responses, respectively
Ratio Data - Answer Similar to interval data in that the data is ordered within a range and with each data point being an equal interval apart, also has a natural zero point which indicates none of the given quality
Data Set - Answer A collection of related data records on a storage device.
Nominal Data - Answer Sometimes called categorical data or qualitative data, this data type is used to label subjects or data by name
Reliable Data - Answer Data that is consistent and repeatable
Davenport-Kim Three Stages Model - Answer A decision-making model developed by Thomas Davenport and Jinho Kim that consists of three stages:
Framing the problem
Solving the problem
Communicating the problem
Blind study - Answer A study performed where the participants are not told if they are in the treatment group or control group
Double-Blind Study - Answer A study performed where neither the treatment allocators nor the participant knows which group the participant is in
Measurement Bias - Answer A prejudice in the data that results when the sample is not representative of the population being represented.
Analytics - Answer The discovery, analysis, and communication of meaningful patterns in data.
Data Management - Answer The management, including the cleaning and storage, of collected data
Triple-Blind Study - Answer A study performed where neither the treatment allocator nor the participant nor the response gatherer knows which group the participant is in
Omission Error - Answer An error because something ( for example, data or survey responses) is missing.
Relational Database - Answer A database structured to recognize relations among stored items of information
Ordinal Data - Answer Data that places data objects into an order according o some quality with higher order indicating more of that quality
Discrete Data - Answer Data that can only take on whole values and has clear boundaries
Interval Data - Answer Data that is ordered within a range and with each data point being an equal interval apart
Valid Data - Answer Data resulting from a test that accurately measures what it is intended to measure
Big Data - Answer A catch-phrase that describes a massive volume that is so large that it's difficult to process using traditional database software techniques
Systematic errors - Answer Errors in measurement that are constant within a data set, sometimes caused by faulty equipment or bias.
Benchmarks - Answer Standards or points of reference for an industry or sector that can be used for comparison and evaluation.
Continuous Data - Answer Data that can lay along any point in a range of data
Statistics - Answer The science that deals with the interpretation of numerical facts or data though theories of probability. Also, the numerical facts or data themselves.
Decision Tree Analysis - Answer The diagram of possible alternatives and their expected consequences in order to formulate passible courses of action in order to make decisions
Expected Monetary Value (EMV) Analysis - Answer A statistical technique that calculates the average outcome when the future includes scenarios that may or may not happen.
Response Rates - Answer The number of people who respond to a marketing offer (often expressed as a percentage of the number of responses divided by the number of people that ere targeted mail, email etc.)
Click-through rates - Answer A common metric to measure the success of an email campaign. Total number of clicks on a hotlink(s) in an email divided by the number of emails sent. Includes multiple clicks by a unique user.
Open Rate - Answer The number of email message recipients who opened an email, usually as a percentage of the number of emails sent or delivered. The open rate is considered a key metric for judging an email marketing campaign.
Transactional Data - Answer Data that records a time and relevant reference data needed for a particular transaction record; can be financial, involving everything from a purchase to shipping status to a product return.
Response Bias - Answer When respondents to a survey say what they believe the questioner wants to hear. This bias can occur as a result of the wording of a question.
Conscious bias - Answer The surveyor is actively seeking a certain response to support his or her cause. Bias occurs when the researcher manipulates the phrasing of questions in order to elicit the desired response
Missing data and refusals - Answer This misuse occurs when a certain part of the sample gets lost or subjects refuse to contribute ti the overall data collection
Small sample size - Answer Sample size is too small to make inferences
Parametric test - Answer Assumes there is a structure (maybe a normal distribution) to the population, often appearing when mean or standard deviation are important
Non-parametric test - Answer Does not assume there to be a structure (maybe a normal distribution) to the population
Association and causality misuse - Answer When a researcher notices a relationship between two variable and assumes that one variable is the cause of the other. In reality, these variables might both be caused by separate variables; they would merely be correlated. Or have no relationship at all.
Training and test data misuse - Answer When the same dat that's used to forma hypothesis is then used to test the hypothesis. Sample size is too small and different samples have a lot of crossover
Unfounded assumptions - Answer Assumption is made that has not been proven
Operationalization - Answer The development of specific research procedures that allow for observation and measurement of abstract concepts. Key aspects of operationalizing is defining variables and attributes that adequately represent the concepts of the study.
Blinding - Answer When researchers place barriers between themselves and subjects to insure the researchers do not influence subjects' behavior.
Causation - Answer Cause and effect
Confidence Interval - Answer The range around the mean that a sample has a specific probability of occurring within
Probability - Answer The likelihood of an event occurring
Compliment - Answer The occurrence of an event not happening, the opposite. The sum of the probability and its compliment is always equal to one.
Independent Events - Answer Events that are not effected by other trials or events,
Complimentary events - Answer Events with two outcomes that are the only possible outcome. Like flipping a coin.
Conditional Probability - Answer The probability of an event occurring, given that another event has already occurred.
P(B|A) = P(A and B)/P(A)
Dependent Events - Answer An event that is affected by the previous events.
Probability of an Intersection - Answer The probability of two independent events happening.
P(A∩B) = P(A) x P(B)
Probability of a Union - Answer The collection of elements that are both A, B or both A and B.
P (AUB) = P (A) + P (B) - P (A∩B)
Mutually Exclusive Events - Answer When two or more events are not able to occur at the same time
Multiplication Principle - Answer When the probabilities of multiple events are multiplied together to determine the likelihood of all the event occurring.
Inferential Statistics - Answer Statistics that are used to make predictions about a population from observations of a sample
Descriptive Statistics - Answer Used to describe a population from observations of that whole population
Sampling with Replacement - Answer A technique used when each piece of the population can be selected more than once. [Show Less]