Test Bank for Essentials of Statistics for
Business and Economics ch 1 (7th
edition by Mario F. Triola)
Statistics ( p. 3) - ANSthe art and science of collecting, analyzing, presenting, and interpreting
data
Data (p. 5) - ANSthe facts and figures collected, analyzed and summarized for presentation and
interpretation
Elements (p. 5) - ANSthe entities on which data are collected
Variable (p. 5) - ANSa characteristic of interest for the elements
Observation (p. 6) - ANSthe set of measurements obtained for a particular element
Nominal Scale (p. 6) - ANSthe scale of measurement where the data for a variable consist of
labels or names used to identify an attribute of the element, non-numerical or numerical
Ordinal Scale (p. 6) - ANSthe scale of measurement where the data for a variable consist of
properties of nominal data and the order or rank of the data is meaningful, non-numerical or
numerical
Interval Scale (p. 6) - ANSthe scale of measurement where the data for a variable have
properties of ordinal data and the interval between values is expressed in terms of a fixed unit of
measure, always numerical
Ratio Scale (p. 6) - ANSthe scale of measurement where the data for a varible have all the
properties of interval data and the ratio of two values is meaningful requires a zero value,
always numerical
Categorical Data (p. 7) - ANSdata that can be grouped by specific categoriesas label or names,
nominal or ordinal data
Quantitative data (p. 7) - ANSdata that use numerical values to indicate how much or how many,
interval or ratio scale
Categorical Varible (p. 7) - ANSa variable with categorical data
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller AllLegitExams. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
