BUSINESS 203 FINAL TAMU QUESTIONS AND CORRECT
DETAILED ANSWERS WITH RATIONALES (VERIFIED
ANSWERS) ALREADY GRADED A+
Population Ans✓✓✓Group of individuals or objects that we want to
study and draw conclusions about
Sample Ans✓✓✓Subset of the population that we collect data from
Sampling Ans✓✓✓Process of selecting a subset of individuals or
objects from the population
Statistic Ans✓✓✓Number that represents a property of the sample (we
calculate a this from the sample data)
Probability Ans✓✓✓Mathematical tool used to study randomness
Parameter Ans✓✓✓A numerical characteristic of the whole population
that can be estimated by a statistic
Variable Ans✓✓✓A characteristic or measurement that can be
determined for each member of a population
Data ` Ans✓✓✓The actual values of the variable
, Qualitative Ans✓✓✓relating to, measuring, or measured by the quality
of something rather than its quantity
Quantitative discrete Ans✓✓✓it can only take specific numeric values
Quantitative continuous Ans✓✓✓can take on any value and any value
between two values
Random sampling Ans✓✓✓probability sampling the researcher
randomly selects a subset of participants
Convenience sampling Ans✓✓✓choosing individuals who are easiest to
reach
simple sampling Ans✓✓✓Subset of individuals chosen from a larger set
(still random sub set)
stratified sampling Ans✓✓✓Divided subjects that are divided into sub
groups based on characteristics that they share
cluster sampling Ans✓✓✓a sampling technique in which clusters of
participants that represent the population are used
DETAILED ANSWERS WITH RATIONALES (VERIFIED
ANSWERS) ALREADY GRADED A+
Population Ans✓✓✓Group of individuals or objects that we want to
study and draw conclusions about
Sample Ans✓✓✓Subset of the population that we collect data from
Sampling Ans✓✓✓Process of selecting a subset of individuals or
objects from the population
Statistic Ans✓✓✓Number that represents a property of the sample (we
calculate a this from the sample data)
Probability Ans✓✓✓Mathematical tool used to study randomness
Parameter Ans✓✓✓A numerical characteristic of the whole population
that can be estimated by a statistic
Variable Ans✓✓✓A characteristic or measurement that can be
determined for each member of a population
Data ` Ans✓✓✓The actual values of the variable
, Qualitative Ans✓✓✓relating to, measuring, or measured by the quality
of something rather than its quantity
Quantitative discrete Ans✓✓✓it can only take specific numeric values
Quantitative continuous Ans✓✓✓can take on any value and any value
between two values
Random sampling Ans✓✓✓probability sampling the researcher
randomly selects a subset of participants
Convenience sampling Ans✓✓✓choosing individuals who are easiest to
reach
simple sampling Ans✓✓✓Subset of individuals chosen from a larger set
(still random sub set)
stratified sampling Ans✓✓✓Divided subjects that are divided into sub
groups based on characteristics that they share
cluster sampling Ans✓✓✓a sampling technique in which clusters of
participants that represent the population are used
