Essentials of Statistics for Business and Economics Chapter 2 Exam Questions with Answers.

Essentials of Statistics for Business and Economics Chapter 2 Exam Questions with Answers Categorical data - Correct Answers: labels or names used to identify categories of like items Quantitative data - Correct Answers: numerical values that indicate how much or how many Frequency distribution - Correct Answers: A tabular summary of data showing the number (frequency) of observations in each of several nonoverlapping categories or classes. Relative frequency distribution - Correct Answers: A tabular summary of data showing the fraction or proportion of observations in each of several nonoverlapping categories or classes. Percent frequency distribution - Correct Answers: A tabular summary of data showing the percentage of data values in each of several nonoverlapping classes. Bar chart - Correct Answers: A graphical device for depicting categorical data that have been summarized in a frequency, relative frequency, or percent frequency distribution. pie chart - Correct Answers: A graphical device for presenting data summaries based on subdivision of a circle into sectors that correspond to the relative frequency for each class. class midpoint - Correct Answers: the value halfway between the lower and upper class limits dot plot - Correct Answers: a graphical device that summarizes data by the number of dots above each data value on the horizontal axis histogram - Correct Answers: a graphical presentation of a frequency distribution, relative frequency distribution, or percent frequency distribution of quantitative data constructed by placing the class intervals on the horizontal axis and the frequencies, relative frequencies, or percent frequencies on the vertical axis Cumulative frequency distribution - Correct Answers: A tabular summary of quantitative data showing the number of data values that are less than or equal to the upper class limit of each class. cumulative relative frequency distribution - Correct Answers: A tabular summary of quantitative data showing the fraction or proportion of data values that are less than or equal to the upper class limit of each class. Ogive - Correct Answers: a graph of a cumulative distribution Exploratory data analysis - Correct Answers: methods that use simple arithmetic and easy-to-draw graphs to summarize data quickly Stem-and-leaf display - Correct Answers: an exploratory data analysis technique that simultaneously rank orders quantitative data and provides insight about the shape of the distribution crosstabulation - Correct Answers: A tabular summary of data for two variables. The classes for one variable are represented by the rows; the classes for the other variable are represented by the columns. simpson's paradox - Correct Answers: Conclusions drawn from two or more separate crosstabulations that can be reversed when the data are aggregated into a single crosstabulation. scatter diagram - Correct Answers: a graphical presentation of the relationship between two quantitative variables. One variable is shown on the horizontal axis and the other variable is shown on the vertical axis Trendline - Correct Answers: a line that provides an approximation of the relationship between two variables