.Solution Manual for Essentials of Modern Business Statistics 10 Edition with 100% fully Researched Rationales A+Guarantee.

Solution Manual for Essentials of Modern Business Statistics 10 Edition with 100% fully Researched Rationales A+Guarantee. Statistics - ANSWERSThe art and science of collecting, analyzing, presenting, and interpreting data. Data - ANSWERSThe facts and figures collected, analyzed, and summarized for presentation and interpretation Data set - ANSWERSAll the data collected in a particular study Elements - ANSWERSThe entities on which data are collected Variable - ANSWERSA characteristic of interest for the elements Observation - ANSWERSThe set of measurements obtained for a particular element Nominal Scale - ANSWERSThe 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-numerical or numerical Ordinal Scale - ANSWERSThe 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 nonnumerical or numerical Interval Scale - ANSWERSThe scale of measurement for a variable if the data demonstrate the properties of ordinal data and the interval between values is expressed in terms of a fixed unit of measure. Interval data are always numerical Ratio Scale - ANSWERSThe Scale measurement for a variable if the data demonstrate all properties of interval data and the ratio of two values is meaningful. Ratio data are always numerical Categorical Data - ANSWERSLabels or names used to identify an attribute of each element. Categorical data use either the nominal or ordinal scale of measurement and may be non-numerical or numerical Quantitative Data - ANSWERSNumerical values that indicate how much or how many of something. Quantitative data are obtained using either the interval or ratio scale of measurement. Categorical Variable - ANSWERSA variable with categorical data Quantitative Variable - ANSWERSA variable with quantitative data Cross-Sectional data - ANSWERSData collected at the same or approximately the same point in time Time Series data - ANSWERSData collected over several time periods Descriptive Statistics - ANSWERSTabular, graphical, and numerical summaries of data Population - ANSWERSThe set of all elements of interest in a particular study Sample - ANSWERSA subset of the population Census - ANSWERSA survey to collect data on the entire population Sample survey - ANSWERSA survey to collect data on a sample Statistical Inferences - ANSWERSThe process of using data to obtain from a sample to make estimates or test hypotheses about the characteristics of a population Data mining - ANSWERSThe process of using procedures from statistics and computer science to extract useful information from extremely large databases. Categorical Data - ANSWERSLabels or names used to identify categories of like items Quantitative Data - ANSWERSNumerical values that indicate how much or how many Frequency distribution - ANSWERSA tabular summary of data showing the number (frequency) of data values in each of several non-overlapping classes Relative frequency distribution - ANSWERSA tabular summary of data showing the fraction or proportion of data values in each of several non-overlapping classes Percent frequency distribution - ANSWERSA tabular summary of data showing the percentage of data values in each of several non-overlapping classes Bar Chart - ANSWERSA graphical device for depicting categorical data that have been summarized in a frequency, relative frequency, or percent frequency distribution Pie Chart - ANSWERSA 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 - ANSWERSThe value halfway between the lower and upper class limits Dot plot - ANSWERSA graphical device that summarizes data by the number of dots above each data value on the horizontal axis Histogram - ANSWERSA graphical presentation of a frequency distribution, relative frequency distribution, or percent frequency distribution of quantitative data constructed by placing the class interval on the horizontal axis and the frequencies, relative frequencies, or percent frequencies on the vertical axis Cumulative frequency distribution - ANSWERSA 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. Ogive - ANSWERSA graph of a cumulative distribution Exploratory data analysis - ANSWERSMethods that use simple arithmetic and easy-to-draw graphs to summarize data quickly Stem-and-leaf display - ANSWERSAn exploratory data analysis technique that simultaneously rank orders quantitative data and provides insights about the shape of the distribution Sample Statistic - ANSWERSA numerical value used as a summary measure for a sample (sample mean, sample variance, and sample standard deviation) Population parameter - ANSWERSA numerical value used as a summary measure for a population ( the population mean, the population variance, the population standard deviation) Point Estimator - ANSWERSThe sample statistics, such as x-bar, s squared, s, when used to estimate the corresponding population parameter Mean - ANSWERSA measured of central location computed by summing the data values and dividing by the number of observations Median - ANSWERSA measure of central location provided by the value in the middle when the data are arranged in ascending order Mode - ANSWERSA measure of located, defined as the value that occurs with greatest frequency Percentile - ANSWERSA value such that at least p percent of the observations are less than or equal to this value and at least (100-p) percent of the observations are greater than or equal to this value. The 50 percentile is the median Quartile - ANSWERSThe 25th, 50th, and 75th percentiles, referred to as first quartile, the second quartile (median), and third quartile, respectively. The quartiles can be used to divide data set i