BAN 280 Exam 1 Questions And Answers Fully Solved.
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Course
BAN 280
Institution
BAN 280
Population - correct answer a collection of persons, objects, or items of interest
Census - correct answer an examination of each and every measurement of the entire population
Sample - correct answer ...
Interval Scale - correct answer A numerical scale that is higher than nominal and
ordinal data.
Most of the data we use in statistics should be in at least interval data.
Ex. Temeperature scale (F) / Percentage change in employment
Ratio scale - correct answer The highest level/scale of data measurement.
Has a definite zero point whereas interval scale does not. This is the only difference between these two
scales.
The zero allows the data to define a ratio.
Ex. used in all physical measurements - height, weight, length, time, volume, blood pressure, cholestreol
levels. / Kelvin scale for temperatures.
Types of Data - correct answer Primary, secondary, time series, cross sectional,
census
Primary data - correct answer When the investigator collects the data himself.
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