BUSINESS STATISTICS PRACTICE EXAM NEWEST; QUESTIONS AND CORRECT ANSWERS A+ GRADE A+; Answer Key Provided with 100% Correct Answers

BUSINESS STATISTICS PRACTICE EXAM
NEWEST / QUESTIONS AND CORRECT
ANSWERS A+ GRADE / 2025




Population - ANS-a group of phenomena that have something in common

Sample - ANS-a smaller group of members of a population selected to represent the population

Subset - ANS-a set that is a part of a larger set

Statistic - ANS-a characteristic of a sample

Parameter - ANS-a characteristic of a population

N - ANS-All observations used

n - ANS-subset of observations used

Random Sample - ANS-one which every member of the population has an equal chance to be selected

Statistical Inference - ANS-allows you to make an educated guess about the population parameter

Census - ANS-An examination of the entire population

Sample Distribution - ANS-the distribution obtained by computing the statistic for a large number of
samples drawn from the same population.

Sample Variability - ANS-the tendency of the same statistic computed from a number of random
samples drawn from the same population to differ

range - ANS-measure of dispersion (the bigger the number the more dispersed they are)

Central Tendency - ANS-mean, median, mode,

mode - ANS-measure of frequency