Modern Business Statistics- Chapter 2 Exam Questions with Verified Solutions (Graded A+)
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Modern Business Statistics- Chapter 2
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Modern Business Statistics- Chapter 2
Modern Business Statistics- Chapter 2 Exam Questions with Verified Solutions (Graded A+)
What is frequency distribution and its objective ? - Answers A tabular summary of data showing the number ( frequency) of observations in non-overlapping categories. Objective : To provide insights about the d...
Modern Business Statistics- Chapter 2 Exam Questions with Verified Solutions (Graded A+)
What is frequency distribution and its objective ? - Answers A tabular summary of data showing the
number ( frequency) of observations in non-overlapping categories. Objective : To provide insights
about the data that cannot be quickly obtained by looking only at the original data
What is relative frequency ? - Answers The fraction or proportion of the total number of data items
belonging to a class. Relative Frequency of a class= Frequency of the class/ n
Percent frequency ? - Answers relative frequency X 100
Bar Chart? - Answers A graphical display for depicting qualitative data
Pie Chart? - Answers a commonly used graphical display for presenting relative frequency and percent
frequency distributions for categorical data.
What are the three necessary steps to define the classes for a frequency distribution? - Answers 1.
Determine the number of non-overlapping classes 2. Determine the width of each class 3. Determine
the class limits
What is an appropriate range for class width - Answers 5-20 classes
How do you find the approximate class width - Answers (Largest data value−Smallest data
value)/(Number of classes)
Cumulative frequency distribution - Answers shows the number of items with values less than or equal
to the upper limit of each class.
Cumulative relative frequency distribution - Answers shows the proportion of items with values less
than or equal to the upper limit of each class.
Cumulative percent frequency distribution - Answers shows the percentage of items with values less
than or equal to the upper limit of each class.
Shows both the rank order and the shape of the distribution - Answers Stem and leaf display
Skewed left - Answers a longer tail to the left
Moderately right skewed - Answers a longer tail to the right
Highly skewed right - Answers A very long tail to the right
Crosstabulation - Answers A tabular summary of data for two variables. The classes for one variable are
represented by the rows; the classes for the other variable are represented by the columns.
Scatter diagram - Answers a graphical presentation of the relationship between two quantitative
variables
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