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QMB 3200 CHP 1 QUESTIONS AND ANSWERS 100% CORRECT $11.49   Add to cart

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QMB 3200 CHP 1 QUESTIONS AND ANSWERS 100% CORRECT

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QMB 3200 CHP 1 QUESTIONS AND ANSWERS 100% CORRECTQMB 3200 CHP 1 QUESTIONS AND ANSWERS 100% CORRECTQMB 3200 CHP 1 QUESTIONS AND ANSWERS 100% CORRECT Statistics - ANSWER-Mathematical science that deals with the collection, analysis, and presentation of data, which can then be used as a basis for inf...

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  • November 5, 2024
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  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • QMB 3200
  • QMB 3200
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NursingTutor1
QMB 3200 CHP 1 QUESTIONS AND
ANSWERS 100% CORRECT
Statistics - ANSWER-Mathematical science that deals with the collection, analysis, and
presentation of data, which can then be used as a basis for inference and induction.

How businesses use statistics - ANSWER-Marketing Research
Advertising
Operations
Finance and Economics

Data is.. - ANSWER-Values assigned to observations or measurements.

Raw facts and figures that pertain to a measurement or interest.

Data - ANSWER-The numbers—the facts and figures that are collected, analyzed and
summarized for presentation and interpretation. Not all data start out as numbers, but
they can be converted to numbers.

Information - ANSWER-Data that are transformed into useful facts that can be used for
a specific purpose, such as making a decision.

Data Point - ANSWER-Refers to each individual value

Primary Data - ANSWER-Data that you have collected for your own use

advantages: collected by person who's using it
disadvantage: can be expensive and time consuming to collect

Secondary Data - ANSWER-Data collected by someone else

advantages: readily available, less expensive
disadvantages: no control over how the data was collected, less reliable unless
collected and recorded accurately

Qualitative (categorical) data - ANSWER-Data that are grouped by categories

qualified by descriptive terms

Quantative Data - ANSWER-Data with numbers

Described by numerical values

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