- CFA Exams
- 2021 Level I
- Study Session 2. Quantitative Methods (1)
- Reading 7. Statistical Concepts and Market Returns
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Learning Outcome Statements PDF Download
| 1. The Nature of Statistics a. distinguish between descriptive statistics and inferential statistics, between a population and a sample, and among the types of measurement scales; b. define a parameter, a sample statistic, and a frequency distribution; | |
| 2. Measurement Scales a. distinguish between descriptive statistics and inferential statistics, between a population and a sample, and among the types of measurement scales; b. define a parameter, a sample statistic, and a frequency distribution; | |
| 3. Frequency Distributions c. calculate and interpret relative frequencies and cumulative relative frequencies, given a frequency distribution; d. describe the properties of a data set presented as a histogram or a frequency polygon; | |
| 4. Measures of Center Tendency e. calculate and interpret measures of central tendency, including the population mean, sample mean, arithmetic mean, weighted average or mean, geometric mean, harmonic mean, median, and mode; m. compare the use of arithmetic mean and geometric means when analyzing investment returns. | |
| 5. Quartiles, Quintiles, Deciles, and Percentiles f. calculate and interpret quartiles, quintiles, deciles, and percentiles; | |
| 6. Measures of Dispersion g. calculate and interpret 1) a range and a mean absolute deviation, and 2) the variance and standard deviation of a population and of a sample; | |
| 7. Chebyshev's Inequality h. calculate and interpret the proportion of observations falling within a specified number of standard deviations of the mean using Chebyshev's inequality; | |
| 8. The Sharpe Measure of Risk-Adjusted Performance i. calculate and interpret the coefficient of variation and the Sharpe ratio; | |
| 9. Symmetry and Skewness in Return Distributions j. explain skewness and the meaning of a positively or negatively skewed return distribution; k. describe the relative locations of the mean, median, and mode for a unimodal, nonsymmetrical distribution; l. explain measures of sample skewness and kurtosis; | |
| 10. Kurtosis in Return Distributions j. explain skewness and the meaning of a positively or negatively skewed return distribution; k. describe the relative locations of the mean, median, and mode for a unimodal, nonsymmetrical distribution; l. explain measures of sample skewness and kurtosis; |
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