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Essentials of Business Statistics: Communicating With Numbers 1st Edition Test Bank

Ace your exam with Essentials of Business Statistics: Communicating With Numbers 1st Edition Test Bank, a comprehensive collection of MCQs, explanations, and tips for effective studying.

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1-1Chapter 01Statistics and DataTrue / False Questions1.A knowledgeof statistics provides the necessary tools to differentiate between sound andquestionable conclusions.TrueFalse2.Statistics is the methodology of extracting unnecessary information from a data set.TrueFalse3.The branch of statistical studies calleddescriptive statisticssummarizes important aspects of adata set.TrueFalse4.The branch of statistical studies calledinferential statisticsrefers to drawing conclusions aboutsample data by analyzing the corresponding population.TrueFalse5.A population is a larger data set than its corresponding sample.TrueFalse6.Population parameters are used to estimatecorresponding sample statistics.TrueFalse7.Typically, it is possible to examine every member of the population.TrueFalse8.Cross-sectional data contain values of a characteristic of one subject collected over time.TrueFalse9.Time series data contain values of a characteristic of a subject over time.TrueFalse10.Sampling is often necessary due to the potential cost and time of gathering population data.TrueFalse11.Sampling allowsresearchers to draw conclusions about the population.TrueFalse

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