485087
Description
Flashcards by robyngminshall, updated more than 1 year ago
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Created by robyngminshall
over 10 years ago
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| Question | Answer |
| what is the mean | add all the data up and divide by total |
| what is the median? | middle value in a data set |
| what is the mode? | most common data |
| how do you work out the coefficient of variance? | standard deviation x 100/Mean |
| Name 4 different types of data collection | Sampling-randon/non random Observations Surveys-interview/questionnaire |
| Name 3 different types of loans and morgages | 1) interest only 2) repayment 3) endowment |
| what is the formula for APR | APR= (1+r/n)n-1 |
| what is the Repayment loan formula | L=(1+r)t/ ((1+r)t-1+(1+r)2+(1+r)1-1) |
| How do you work out MAD? | 1)find mean 2) subtract mean from data 3)take away the signs 4) add up all data and divide by total number in data set |
| mean deviation | always equals ZERO |
| name 5 types of graphs | pie, bar, histogram, ogive, scattergraph |
| what is the relative frequency | each frequency/total frequency (same as probability) |
| what is the compound growth formula? | FV=PV(1+r)t |
| discounting formula | FV/(1+r)t |
| Discounting rate formula | r=(FV/PV)1/t-1 |
| Straight line depreciation | (cost/residual)-useful life |
| reduce balance depreciation | FV=(1-r)t |
| simple growth formula | FV=(1+tr) |
| Compound growth formula | FV=(1+r)t |
| Continuos growth formula | PVe cy |
| Multiple compound growth | PV(1+i/c)cy |
| Simple Index | Pin/Po x 100 |
| weighted index | Pin/Po x Weights |
| RPI | Weighted price index/weights x 100 |
| what is skewed distribution | when mean, mode and median don't match |
| what is symmetrical distribution | when all central tendencies match |
| what is the roster notation | all the stets in a Venn diagram set out....S=x1,x2,x3..) |
| What is a set-builder | defines sets and is used in cases of large data...S=x:is a dog breeds) |
| what is objective probability? | before logical reasoning |
| what is subjective probability | from personal opinion |
| what does mutually exclusive mean? | that two events can't happen together |
| what is relative variability the same as? | coefficient of variance |
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