BAN 280 Exam 1 Questions & Answers
2024/2025
two main branches of statistics - ANSWERSdescriptive and inferential
population - ANSWERSa collection of persons, objects, or items of interest
census - ANSWERSan examination of each and every measurement of the entire population
sample - ANSWERSa subset of measurements selected from the population
random sample - ANSWERSa sample in which every element in the population has an equal chance of
being selected
parameter - ANSWERSa summary measure computed from a population
statistic - ANSWERSa summary measure computed from a sample
discrete data - ANSWERSvariables that can take on distinct and separate values
continuous data - ANSWERScan assume an infinite number of values within an interval
qualitative variables - ANSWERSvariables that can be placed into distinct categories, according to some
characteristic or attribute
quantitative variable - ANSWERScan be discrete or continuous, and can be measured on a numeric scale.
Scales of Measurement - ANSWERSnominal, ordinal, interval, ratio (noir)
, nominal scale - ANSWERSLowest level of measurement where data has no natural order and are merely
categories or simply assigned values
ordinal data - ANSWERScategorical data in which order is important, but the distance between the
values is meaningless. ordinal data can be counted and ordered but not measured
interval data - ANSWERSdata is always numerical, and the distance between values are known, equal,
and can be measured. has no definite zero (zero is arbitrary)
ratio data - ANSWERSdata that is ordered, with known and measurable intervals between each values.
the zero is absolute, and signifies the absence of the characteristic being measured.
primary data - ANSWERSthe data is collected by the person who is doing the research
secondary data - ANSWERSthe data is collected by someone other than the principal investigator
time series data - ANSWERSa sequence of observations that are taken in an orderly fashion with respect
to time
cross sectional data - ANSWERSobservations taken at a single point in time
frequency distribution - ANSWERSthe grouping of data into several non-overlapping classes showing the
number of observations in each class (aka the frequency of each class). a frequency distribution is used
for qualitative variables
relative frequency distribution - ANSWERSa grouping of data which displays the fraction of the total
number of observations belonging to each class. this distribution is used for quantitative variables
histogram - ANSWERSa graph that looks like a bar graph and shows the frequency distribution or the
relative frequency distribution of the data
2024/2025
two main branches of statistics - ANSWERSdescriptive and inferential
population - ANSWERSa collection of persons, objects, or items of interest
census - ANSWERSan examination of each and every measurement of the entire population
sample - ANSWERSa subset of measurements selected from the population
random sample - ANSWERSa sample in which every element in the population has an equal chance of
being selected
parameter - ANSWERSa summary measure computed from a population
statistic - ANSWERSa summary measure computed from a sample
discrete data - ANSWERSvariables that can take on distinct and separate values
continuous data - ANSWERScan assume an infinite number of values within an interval
qualitative variables - ANSWERSvariables that can be placed into distinct categories, according to some
characteristic or attribute
quantitative variable - ANSWERScan be discrete or continuous, and can be measured on a numeric scale.
Scales of Measurement - ANSWERSnominal, ordinal, interval, ratio (noir)
, nominal scale - ANSWERSLowest level of measurement where data has no natural order and are merely
categories or simply assigned values
ordinal data - ANSWERScategorical data in which order is important, but the distance between the
values is meaningless. ordinal data can be counted and ordered but not measured
interval data - ANSWERSdata is always numerical, and the distance between values are known, equal,
and can be measured. has no definite zero (zero is arbitrary)
ratio data - ANSWERSdata that is ordered, with known and measurable intervals between each values.
the zero is absolute, and signifies the absence of the characteristic being measured.
primary data - ANSWERSthe data is collected by the person who is doing the research
secondary data - ANSWERSthe data is collected by someone other than the principal investigator
time series data - ANSWERSa sequence of observations that are taken in an orderly fashion with respect
to time
cross sectional data - ANSWERSobservations taken at a single point in time
frequency distribution - ANSWERSthe grouping of data into several non-overlapping classes showing the
number of observations in each class (aka the frequency of each class). a frequency distribution is used
for qualitative variables
relative frequency distribution - ANSWERSa grouping of data which displays the fraction of the total
number of observations belonging to each class. this distribution is used for quantitative variables
histogram - ANSWERSa graph that looks like a bar graph and shows the frequency distribution or the
relative frequency distribution of the data
