12 Questions
Which term refers to a set of data points or values?
Data sets
When summarizing data in a tabular format, which graphical representation can be used to visually display the data distribution?
Histogram
What term describes the middle value in a set of data when arranged in ascending order?
Median
In statistics, what does the standard deviation measure?
Spread of data
When using a spreadsheet to analyze data, which function can be used to calculate the average value of a data set?
AVERAGE
What is the main difference between discrete and continuous probability distributions?
Discrete distributions have specific numerical values while continuous distributions have a range.
What is the primary difference between a population and a sample?
Population refers to a specific group, while a sample is a subset of that group.
In survey sampling, what is a common mistake that can lead to selection bias?
Selecting only volunteers to participate
Which sampling method involves dividing the population into non-overlapping subgroups before taking a random sample from each subgroup?
Cluster sampling
When estimating intervals over which a population parameter could exist, what statistical concept is being utilized?
Margin of error
What does the significance level in hypothesis testing represent?
The probability of making a Type I error
In linear regression, what does the correlation coefficient (r) measure?
The strength and direction of the linear relationship between two variables
Learn the importance of statistics in business, the difference between quantitative and qualitative data, and key statistical terms like mean, median, mode, standard deviation, variance, population, and sample. Gain skills in summarizing and interpreting data with frequency distributions, histograms, and spreadsheets.
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