Basic Statistics for Business
and Economics - Chapter 2
Exam Questions with Answers
Frequency Table - Correct Answers: A grouping of qualitative data into mutually exclusive classes
showing the number of observations in each class.
Bar Chart - Correct Answers: A graph in which the classes are reported on the horizontal axis and the
class frequencies on the vertical axis. The class frequencies are proportional to the heights of the bars.
Pie Chart - Correct Answers: A chart that shows the proportion or percent that each class represents of
the total number of frequencies.
Frequency Distribution - Correct Answers: A grouping of data into mutually exclusive classes showing the
number of observations in each class.
Relative Frequency - Correct Answers: Captures the relationship between a class total and the total
number of observations.
Class Interval - Correct Answers: Obtained by subtracting the lower limit of a class from the lower limit
of the next class.
Class Frequency - Correct Answers: The number of observations in each class.
Class Midpoint - Correct Answers: A point that divides a class into two equal parts. This is the average of
the upper and lower class limits.
Histogram - Correct Answers: A graph in which the classes are marked on the horizontal axis and the
class frequencies on the vertical axis. The class frequencies are represented by the heights of the bars
and the bars are drawn adjacent to each other.
and Economics - Chapter 2
Exam Questions with Answers
Frequency Table - Correct Answers: A grouping of qualitative data into mutually exclusive classes
showing the number of observations in each class.
Bar Chart - Correct Answers: A graph in which the classes are reported on the horizontal axis and the
class frequencies on the vertical axis. The class frequencies are proportional to the heights of the bars.
Pie Chart - Correct Answers: A chart that shows the proportion or percent that each class represents of
the total number of frequencies.
Frequency Distribution - Correct Answers: A grouping of data into mutually exclusive classes showing the
number of observations in each class.
Relative Frequency - Correct Answers: Captures the relationship between a class total and the total
number of observations.
Class Interval - Correct Answers: Obtained by subtracting the lower limit of a class from the lower limit
of the next class.
Class Frequency - Correct Answers: The number of observations in each class.
Class Midpoint - Correct Answers: A point that divides a class into two equal parts. This is the average of
the upper and lower class limits.
Histogram - Correct Answers: A graph in which the classes are marked on the horizontal axis and the
class frequencies on the vertical axis. The class frequencies are represented by the heights of the bars
and the bars are drawn adjacent to each other.
