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The best fit line is helpful in estimating values of data points?
True
What is an outlier in 98 85 34 79 85 92?
35 would be the outlier in the values 98 85 34 79 85 92. All the other values are fall in a range of 20 points whereas 35 is 40+ points away from this range.
When is the correlation coefficient closest to 1?
When x and y values of points agree in a linear relationship
What is the difference between estimating and guessing?
When you are estimating, you're making an educated "guess". For example, if there's water in a cup, you see that the water is clearly between 300 mL and 310 mL, so an estimation would be anything in between those two values. When you are guessing, you have no foundation to base it on. For example, lets take the water in the cup again. W/o looking at the measurements at all, with no knowledge you make the statement: The cup has about 1000mL of water.
What is the median in a set of data?
The middle value so half the data is above it and half the data is below it. It is often used because extreme values tend to affect it less than other measures of central tendency. If you have an even number of data points, the median is the mean of those two points. ( So you add the two values and divided by two)
The best fit line is helpful in estimating values of data points?
True
The process of estimating values between measured data points is called?
Interpolation.
What happens in the interpolation process?
Interpolation is a method of constructing new data points within the range of a discrete set of known data points. Basically it's a way of estimating certain values, based on information that is already given.
Values on math?
Math has many values like estimating can help you determine an amount you have to pay.
What is estimating a value beyond a given set of values called?
It is called extrapolation.
What is estimating a value between two known values in a data set is called?
If you know the two values you shouldn't have to estimate. But you are looking for the mean, or average. Simply add them together and divide by two. Otherwise you are just estimating.
Differentiate between extrapolation and interpolation?
Extrapolation involves predicting values outside of the range of known data, while interpolation involves estimating values within the known data range. Extrapolation assumes that the pattern observed in existing data continues beyond what is measured, which can lead to more uncertainty compared to interpolation. Interpolation, on the other hand, is used to estimate values between existing data points.
When we use a least-squares line to predict y values for x values beyond the range of x values found in the data are we extrapolating or interpolating?
If you're estimating a point OUTSIDE the data range, it's extrapolating. If you're estimating a point WITHIN the data range, it's interpolating.
When material prices may vary significantly from current inventory values which estimating method should be used?
government
What is the slope of the line that contains the points?
It's (the difference in the points' y-values) divided by (the difference in their x-values)
How do you determine if the points on a graph are invalid?
Plug the x-values into the original equation. If you get the same y-values, then the points are valid.
How do you find the quadrant number of a point?
If the points have both positive y-values and x-values it is quadrant 1 If the points have a negative x-value and a positive y-value it is quadrant 2 If the points have both negative y-values and x-values it is quadrant 3 If the points have a positive x-values and a negative y-value it is quadrant 4
