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...
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
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 NursingTutor1. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.49. You're not tied to anything after your purchase.
