The term ____ can refer to the numerical facts such as averages, medians, percen

Question

The term ____ can refer to the numerical facts such as averages, medians, percentages and index numbers that help us understand a variety of business and economic situations. It can also refer to the art and science of collecting analyzing presenting and interpreting data. a. Regression b. Mathematics c. Economics d. Statistics match the name of the scale of measurement with the definition below: a. Nominal ___ The data have properties of ordinal data and the interval between observations expressed in terms of a fixed unit of measure. b. Ordinal ____ Data are labels or names used to identify an attributed of the element. c. Ratio ___ The data have the properties of nominal data and the order or rank of the data is meaningful. d. Interval ___ Data where the ratio of two values is meaningful and contains z zero value that indicates that noting exists for that variable at that zero point. The two classes of data are: a. Qualitative and Exponential b. Quantitative and Categorical c. Quantity and Quality d. Distributive and Associative

Explanation / Answer

1.D) Statistics

2. A) Nominal matches with 2) Data are labels or names ...

B) Ordinal matches with 3) The data have properties of nominal..

C) Ratio matches with 4) Data where the ratio..

D) Interval matches with 1) The data have properties of ordinal data..

3. b) Quantitative and Categorical

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