Bus 271 Final Exam Study Guide Updated Actual Questions And Correct Answers

BUS 271 FINAL EXAM STUDY GUIDE UPDATED
ACTUAL QUESTIONS AND CORRECT ANSWERS

Question:
1. Data

Answer:
Facts and figures collected. analyzed. and summarized for presentation and
interpretation

Question:
2. Data Set

Answer:
data collected in a particular study

Question:
3. Elements

Answer:
Entities on which data are collected

Question:
4. Variable

Answer:
Characteristic of interest for the elements

Question:
5. Categorical variable

Answer:
Data grouped by specific categories

Question:
6. Quantitative Variable

Answer:
Data that use numeric values

Question:
7. Descriptive Statistics

Answer:
Summaries of data

, Question:
8. Population

Answer:
The larger group of elements in a particular study

Question:
9. Sample

Answer:
The smaller group, or subset of the population

Question:
10. Census

Answer:
The process of conducting a survey to collect data on the entire population

Question:
11. Sample Survey

Answer:
The smaller group, or subset of the population

Question:
12. Statistical inference

Answer:
The use of data to make estimates and test hypothesis about the characteristics of
a population

Question:
13. Analytics

Answer:
Scientific process of transforming data into insight for making better decisions

Question:
14. Descriptive Analytics

Answer:
Encompasses the set of analytical techniques that describes what happened in
the past.