20 Questions
Which type of data is defined by distinct categories?
Ordinal data
Which type of data involves measured characteristics like weight and voltage?
Continuous data
Which type of data is observed at a single point in time?
Cross-sectional data
Which type of data visualization is used for comparing different categories?
Pie chart
Which descriptive statistics provide a summary of the data in tabular format?
Frequency, percent frequency
What is the recommended range of classes to use when summarizing quantitative data?
5 to 10
In the context of summarizing quantitative data, what may happen if there are too many classes?
Gaps from empty classes may appear
What is the approximate class width if the range of data is 60 and the number of classes is 10?
12
How can the lower class limit be defined?
It is the smallest possible data value assigned to the class
What does a bar chart emphasize in summarizing categorical data?
The distribution of each category
What were the two key ideas championed by Adam Smith in The Wealth of Nations?
The division of labor and specialization of workers
What insight did Adam Smith have regarding relatively unskilled workers?
They could be taught to perform simpler tasks within a complex production process
What was the expected outcome of increased workforce participation according to Adam Smith?
Increased productivity and surplus goods for trade
According to Adam Smith, what would nations be able to trade if they produced surplus goods?
Their surplus goods for products in other markets
What was the key idea that reshaped how work was carried out in much of the Western world according to Adam Smith?
Division of labor
What was one of Frederick Taylor's major innovations in scientific management?
Conducting time-and-motion studies to improve work processes
What was the assumption about human nature underlying scientific management (SM)?
People are primarily economic actors motivated by financial rewards
What was the outcome of the time-motion studies conducted by Frederick Taylor?
Implementation of job specialization through careful planning by managers
What was the primary responsibility of managers in the context of time-and-motion studies?
To study the work being done in great detail and plan the work process
What was the basis for linking pay to output in scientific management?
Assumption that financial rewards motivate workers to increase productivity
Test your knowledge of data measurement levels, data types, and examples in the context of quantitative methods and analytics. This quiz covers topics such as ratio/interval data, ordinal data, nominal data, categorical and numerical data, and qualitative vs. quantitative data.
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