Chapters 1-4 Business Statistics Exam Questions With Correct Answers

Chapters 1-4 Business Statistics Exam
Questions With Correct Answers

Mean //- //verified //answer(s)-✔✔Average; //the //sum //total //of //a //data //set //divided //by //the
//number //of //values //in //the //set. //Gives //the //average //value //of //the //entire //set




Median //- //verified //answer(s)-✔✔The //middle //value //of //a //data //set //that //is //in //numerical
//order. //If //the //number //of //values //is //even //you //divide //the //middle //two //values.




Mode //- //verified //answer(s)-✔✔The //number //that //occurs //most //in //a //data //set. //If //every
//number //occurs //the //same //amount //of //times //there //is //no //mode




Descriptive //Statistics //- //verified //answer(s)-✔✔"Tabular, //graphical, //and //numerical
//summaries //of //data."




Examples: //Skewness, //Average, //Etc



Nominal //Scale //- //verified //answer(s)-✔✔"The //scale //of //measurement //for //a //variable //when
//the //data //are //labels //or //names //used //to //identify //an //attribute //of //an //element. //Nominal


//data //may //be //non-numeric //or //numeric."




Ordinal //Scale //- //verified //answer(s)-✔✔"The //scale //of //measurement //for //a //variable //if //the
//data //exhibit //the //properties //of //nominal //data //and //the //order //or //rank //of //the //data //is


//meaningful. //Ordinal //data //may //be //non-numeric //or //numeric."