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BAN 280 Exam 1 Questions And Answers Fully Solved.
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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 ...

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  • October 17, 2024
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  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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BAN 280 Exam 1

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 a subset of measurements selected from the population



Parameter - correct answer A measurement from a population



Statistic - correct answer A measurement from a sample



continuous data - correct answer Numerical data values that can be MEASURED



Ex. The weight, in ounces, of the apple butter poured into jars on an assembly line.



discrete data - correct answer Numerical data values that can be COUNTED



Ex. The humber of students in class today



4 scales of measurement - correct answer nominal, ordinal, interval, ratio



Nominal scale - correct answer The lowest level of data measurement.



Not necessarily numerical. Levels or categories or simply assigned values.



Ex. male or female

, Ordinal scale - correct answer the same as nominal but adds extra properties that
can be ordered.



Ex. 1-very satisfied - 2-satisfied - 3-fair - 4-unsatisfactory



This level of measurement is higher than nominal.



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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