Ecn 221 exam 1 - Study guides, Class notes & Summaries

Covariance: If x and y consistently vary in the same direction, the numerator will be - CORRECT ANSWER positive Deductive Reasoning - CORRECT ANSWER process of drawing a conclusion from a principle already known or assumed (The sun rises every morning; therefore, the sun will rise on Tuesday morning.) Inductive Reasoning - CORRECT ANSWER -A type of logic in which generalizations are based on a large number of specific observations. -Use particular to explain the...

which of the following is a measure of dispersion? - CORRECT ANSWER interquartile range the sum of deviations of the individual data elements from their mean is_____. - CORRECT ANSWER always equal to zero the value of the sum of the squared deviations form the mean, i.e., summation(x-xbar)^2 must always be______. - CORRECT ANSWER at least zero the interquartile range is_________. - CORRECT ANSWER the difference between the third and first quartiles ...

ECN 221 ASU EXAM -1 QUESTIONS WITH COMPLETE SOLUTION GRADED A+

nominal data - CORRECT ANSWER names indicating characteristic ex: NYSE, NASDAQ ordinal data - CORRECT ANSWER can be ordered/ranked ex: gold, silver, bronze interval data - CORRECT ANSWER quantitative AND can be ranked BUT is a fixed unit of measurement ex: SAT scores, credit score ratio data - CORRECT ANSWER quantitative AND can be ranked BUT is a fixed unit of measurement AND the ratio is meaningful categorical data (qualitative) - CORRECT A...