Understanding Data Types and Visualization Techniques

Chapter 4 Handout Part One: Multiple Choices 1: In the late 1960s, Ed Altman developed a model to predict if a company was at severe risk of going bankrupt. He called his statistic Altman’s Z-score, now a widely used score in finance. Based on the name of the statistic, which statistical distribution would you guess this came from? A) Normal distribution B) Poisson distribution C) Standardized normal distribution D) Uniform distribution 2: Justin Zobel suggests that revising your writing requires you to “be egoless—ready to dislike anything you have previously written,” suggesting that it is _____ you need to please: A) yourself B) the reader C) the customer D) your boss 3: Which of the following is not a typical example of nominal data? A) Gender B) SAT scores C) Hair color D) Ethnic group 4: The Fahrenheit scale of temperature measurement would best be described as an example of: A) interval data. B) discrete data. C) nominal data. D) continuous data. 5: _____ data would be considered the least sophisticated type of data. A) Ratio B) Interval C) Ordinal D) Nominal

6: _____ data would be considered the most sophisticated type of data. A) Ratio B) Interval C) Ordinal D) Nominal 7: Exhibit 4-12 gives chart suggestions for what data you’d like to portray. Those options include all of the following except : A) relationship between variables B) geographic data C) outlier detection D) normal distribution curves Part Two: Problems 1: Explain Exhibit 4-4 and why these four dimensions are helpful in describing information to be communicated? - 2: What would be the best chart to use to illustrate earnings per share for one company over the past 5 years. - Line chart: continuous data and bar chart: discrete data

3: Match the chart type to whether it is used primarily to communicate qualitative or quantitative results: Chart Type Quantititative or Qualitative? 1. Pie chart Qualitative 2. Box and whisker Plot Quantitative 3. Word Cloud Qualitative 4. Symbol Map Qualitative 5. Scatter Plot Quantitative 6. Line Chart Quantitative 4: Match the desired visualization for quantitative data to the following chart types:  Line charts  Bar charts  Box and Whisker Plots  Scatter Plots  Filled Geographic Maps Desired Visualization Chart Type 1. Useful for showing quartiles, medians, and outliers Box and Whisker Plots 2. Correlation between two variables Scatter Plots 3. Distribution of sales across states or countries Filled Geographic Maps 4. Visualize the line of best fit Scatter Plots 5. Data trends for net income over the past eight quarters Line charts or bar chart 6. Data trends for stock price over the past 5 years Line charts

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Chapter 4 Handout

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