MIS 2502 Study Guide - Final Guide: Cluster Analysis, Scatter Plot, Standard Deviation

• School: Temple University
• Department: Management Information Systems
• Course: MIS 2502
• Professor: David Schuff

Document Summary

Mis clustering notes: cluster analysis, be able to read the output from a cluster analysis and interpret a scatter plot of 2 dimensional data (i. e. , the baseball example from the slides, understanding data b. i. Ie: discover which stocks have similar price fluctuations: summarizing data c. i. Reduce the size of large data sets c. ii. Data in similar groups can be combined into a single data point: what cluster analysis is not? d. i. Manual classification: people simply place items into categories d. ii. Simple segmentation: dividing students into groups by last name: understand the difference between cohesion and separation, mean statistics f. i. Interpret root mean squared standard deviation and distance to nearest cluster f. ii. Relate them back to the concepts of cohesion and separation f. ii. 1. Cohesion: how similar the observations within a cluster are to each other f. ii. 2. Separation: how similar the clusters are to each other (cluster 1 vs. cluster 2, cluster 1 vs. cluster.