BAN 280: First Quiz Preparation
Descriptive Statistics - correct answer ✔✔Collecting, summarizing, visualizing, presenting, and analyzing
data
Inferential Statistics - correct answer ✔✔Using data collected from a small group to draw conclusions
about a larger group (sample)
Statistics - correct answer ✔✔Transforms data into useful information for decision makers
Population - correct answer ✔✔The collection of persons, objects, or items of interest (large group)
Sample - correct answer ✔✔Subset selected from the population to collect data (small group)
Census - correct answer ✔✔When you have data on every member of the population
Parameter - correct answer ✔✔A numerical measure that summarizes population data
Variables - correct answer ✔✔A characteristic of a population that is not the same for all
Quantitative - correct answer ✔✔discrete (whole numbers) or continuous (can take decimal value)
(time) (numbers)
Qualitative - correct answer ✔✔Categories
4 scales of measurement - correct answer ✔✔Nominal, Ordinal, Interval, Ratio
Nominal Scale - correct answer ✔✔-comes from word "name"
-Qualitative scale of measurement- variable has categories
Descriptive Statistics - correct answer ✔✔Collecting, summarizing, visualizing, presenting, and analyzing
data
Inferential Statistics - correct answer ✔✔Using data collected from a small group to draw conclusions
about a larger group (sample)
Statistics - correct answer ✔✔Transforms data into useful information for decision makers
Population - correct answer ✔✔The collection of persons, objects, or items of interest (large group)
Sample - correct answer ✔✔Subset selected from the population to collect data (small group)
Census - correct answer ✔✔When you have data on every member of the population
Parameter - correct answer ✔✔A numerical measure that summarizes population data
Variables - correct answer ✔✔A characteristic of a population that is not the same for all
Quantitative - correct answer ✔✔discrete (whole numbers) or continuous (can take decimal value)
(time) (numbers)
Qualitative - correct answer ✔✔Categories
4 scales of measurement - correct answer ✔✔Nominal, Ordinal, Interval, Ratio
Nominal Scale - correct answer ✔✔-comes from word "name"
-Qualitative scale of measurement- variable has categories
