ESSENTIALS OF STATISTICS FOR
BUSINESS AND ECONOMICS 8TH
EDITION ANDERSON ACTUAL PAPER
SOLVED QUESTIONS WITH VERIFIED
ANSWERS
◉ Individuals
Answer: the people or objects included in the study.
◉ Variable
Answer: a characteristic of the individual to be measured or
observed.
◉ Quantitative Variable
Answer: has a value or numerical measurement for which
operations such as addition or averaging make sense.
◉ Qualitative Variable
Answer: describes an individual by placing the individual into a
category or group, such as male or female.
◉ Population Data
, Answer: the data are from every individual of interest. Data from a
specific population are fixed and complete.
◉ Sample Data
Answer: the data are from only some of the individuals of interest.
Data from samples vary from sample to sample and are NOT
complete.
◉ Parameter
Answer: a numerical measure that describes an aspect of a
population.
◉ Statistic
Answer: a numerical measure that describes an aspect of a
sample.
◉ Nominal Level
Answer: The nominal level of measurement applies to data that
consists of names, labels, or categories. There are no implied
criteria by which the data can be ordered from smallest to largest.
We can put the data into categories.
◉ Ordinal Level
Answer: The ordinal level of measurement applies to data that can
be arranged in order. However, differences between data values
either cannot be determined or are meaningless. We can order the
BUSINESS AND ECONOMICS 8TH
EDITION ANDERSON ACTUAL PAPER
SOLVED QUESTIONS WITH VERIFIED
ANSWERS
◉ Individuals
Answer: the people or objects included in the study.
◉ Variable
Answer: a characteristic of the individual to be measured or
observed.
◉ Quantitative Variable
Answer: has a value or numerical measurement for which
operations such as addition or averaging make sense.
◉ Qualitative Variable
Answer: describes an individual by placing the individual into a
category or group, such as male or female.
◉ Population Data
, Answer: the data are from every individual of interest. Data from a
specific population are fixed and complete.
◉ Sample Data
Answer: the data are from only some of the individuals of interest.
Data from samples vary from sample to sample and are NOT
complete.
◉ Parameter
Answer: a numerical measure that describes an aspect of a
population.
◉ Statistic
Answer: a numerical measure that describes an aspect of a
sample.
◉ Nominal Level
Answer: The nominal level of measurement applies to data that
consists of names, labels, or categories. There are no implied
criteria by which the data can be ordered from smallest to largest.
We can put the data into categories.
◉ Ordinal Level
Answer: The ordinal level of measurement applies to data that can
be arranged in order. However, differences between data values
either cannot be determined or are meaningless. We can order the
