COB 191 Final Exam Questions with Correct Answers

COB 191 Final Exam Questions with Correct Answers statistics - Answer-mathematical science that deals with the collection, analysis, and presentation of data, which can then be used as a basis for the inference and induction how business use statistics - Answer-marketing research, advertising, operations, and finance & economics data - Answer-values assigned to observations or measurements information - Answer-data that are transformed into useful facts that can be used for a specific purpose,such as making a decision primary data - Answer-data that you have collected on your own secondary data - Answer-data collected by someone else qualitative data - Answer-classified by descriptive terms nominal & ordinal quantitative data - Answer-described by numerical values interval & ratio nominal scale - Answer-classifies data into distinct categories in which no ranking is implied ordinal scale - Answer-classifies data into distinct categories in which ranking is implied interval scale - Answer-ordered scale in which the difference between measurements is a meaningful quantity but the measurements do not have a true zero point ratio scale - Answer-ordered scale in which the difference between the measurements is a meaningful quantity and the measurements have a true zero point time series data - Answer-values that correspond to specific measurements taken over a range of time periods