Statistical Techniques in Business and Economics, 17th Edition Solution Manual

Statistical Techniques in Business and Economics, 17th Edition Solution Manual provides expertly crafted summaries and insights to boost retention.

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Chapter 01-What Is Statistics?1-1Chapter 1WhatIs Statistics?1.a.Intervalb.Ratioc.Nominald.Nominale.Ordinalf.Ratio(LO1-5)2.a.Ratiob.Nominalc.Ratiod.Ratio(LO1-5)3.Answer will vary.(LO1-5)4.a.Sampleb.Populationc.Populationd.Sample(LO1-3)5.Qualitative data is not numerical, whereas quantitative data is numerical. Examples will varyby student.(LO1-4)6.A population is the entire group which you are studying. A sample is a subset taken from apopulation.(LO1-3)7.Discrete variables can assume only certain values, but continuous variables can assume anyvalues within some range. Examples will vary.(LO1-4)8.a.Apopulation is used because the professor likely has grades readily available fromevery student over the past 5 years.b.A population is employed because the information is easy to find.c.A population is used because the information is easy to find.d.A sample works because it is difficult to locate every musical.(LO1-3)9.a.Ordinalb.Ratioc.The newer system provided information on the distance between exits.(LO1-5)10.The cell phone provider is nominal level data. The minutes used are ratio level. Satisfaction isordinal level.(LO1-5)11.If you were using this store as typical of all Barnes & Noble stores then it would be sampledata.However, if you were considering it as the only store of interest, then the data would bepopulation data.(LO1-3)12.In a presidential election all votes are counted, thus it is similar to a census of the entirepopulation.However, an “exit” poll consists of only some voters and thus is more like asample of the entire population.(LO1-3)

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Statistical Techniques In Business ...

Statistical Techniques in Business and Economics, 17th Edition Solution Manual

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