Essentials of Modern Business
Statistics Chapter 1
Analytics - ANS-The medical method of transforming facts into insight for making higher
selections.
Categorical Data - ANS-Data that may be grouped through precise categories. Use either
nominal or ordinal scale of size.
Categorical Variable - ANS-A variable with specific facts.
Census - ANS-The method of carrying out a survey to gather records for the complete
population.
Cross-Sectional Data - ANS-Data accrued at the same or approximately the same factor in time.
Data - ANS-The statistics and figures collected, analyzed, and summarized for presentation and
interpretation.
Data Set - ANS-All the records accumulated in a specific examine.
Descriptive Analytics - ANS-Encompasses the set of analytical techniques that describe what
has came about inside the past.
Descriptive Statistics - ANS-Data this is summarized and provided in a form that is
straightforward for the reader to apprehend.
Elements - ANS-The entities on which statistics are accrued.
Interval Scale - ANS-A scale of size when the records has all of the properties of ordinal
statistics and the c programming language between values is expressed in phrases of a hard
and fast unit of measure. Always in numerical form.
Nominal Scale - ANS-A scale of size whilst the statistics for a variable encompass labels or
names used to pick out an attribute of the detail.
Observation - ANS-The set of measurements obtained for a particular element.
Ordinal Scale - ANS-A scale of size for a variable while the statistics reveals the properties of
nominal statistics and similarly, the order or rank of the information is meaningful.
Statistics Chapter 1
Analytics - ANS-The medical method of transforming facts into insight for making higher
selections.
Categorical Data - ANS-Data that may be grouped through precise categories. Use either
nominal or ordinal scale of size.
Categorical Variable - ANS-A variable with specific facts.
Census - ANS-The method of carrying out a survey to gather records for the complete
population.
Cross-Sectional Data - ANS-Data accrued at the same or approximately the same factor in time.
Data - ANS-The statistics and figures collected, analyzed, and summarized for presentation and
interpretation.
Data Set - ANS-All the records accumulated in a specific examine.
Descriptive Analytics - ANS-Encompasses the set of analytical techniques that describe what
has came about inside the past.
Descriptive Statistics - ANS-Data this is summarized and provided in a form that is
straightforward for the reader to apprehend.
Elements - ANS-The entities on which statistics are accrued.
Interval Scale - ANS-A scale of size when the records has all of the properties of ordinal
statistics and the c programming language between values is expressed in phrases of a hard
and fast unit of measure. Always in numerical form.
Nominal Scale - ANS-A scale of size whilst the statistics for a variable encompass labels or
names used to pick out an attribute of the detail.
Observation - ANS-The set of measurements obtained for a particular element.
Ordinal Scale - ANS-A scale of size for a variable while the statistics reveals the properties of
nominal statistics and similarly, the order or rank of the information is meaningful.
